The most recent trading session was for PNC Financial Services Group (PNC) to close at $149.60. This reflects an increase of +0.55% from the previous business day's closing price. The stock underperformed the S&P 500 Index, which rose 0.63% on the day. Elsewhere, the Dow Jones Industrial Average rose 0.2%, and the tech-heavy Nasdaq rose 0.82%.
The company's stock fell 0.05% from the previous month, lagging the Financials sector's rise of 2.48% and the S&P 500's rise of 1.76%.
The investment community will be paying close attention to PNC Financial Services Group, Inc.'s earnings performance in upcoming releases. The company plans to announce its results on April 16, 2024. The company's EPS is expected to be $3.05, which would represent a decrease of 23.37% from the same period last year. Meanwhile, our current consensus estimate is projecting revenue of $5.2 billion, down 7.21% from the year-ago quarter.
PNC's full-year Zacks Consensus Estimates are calling for earnings of $12.28 per share and revenue of $21.2 billion. These results represent year-over-year changes of -12.91% and -1.37%, respectively.
Investors should also note any recent adjustments to analyst estimates for PNC Financial Services Group. These latest adjustments often reflect changes in the dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate changes are directly correlated to near-term stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model that considers these estimate changes and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has an impressive, outside-audited history of outperformance, with #1 stocks having an average annual +25% profit. The Zacks Consensus EPS estimate for the month was 0.16% lower. Currently, PNC Financial Services Group, Inc. is carrying a Zacks Rank #3 (Hold).
Investors should also note PNC Financial Services Group, Inc.'s current valuation metrics such as Forward P/E of 12.12x. This represents a premium compared to its industry's estimated P/E of 10.74.
We also note that PNC currently has a PEG ratio of 1.73. This popular metric is similar to the widely-known P/E ratio, except that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks – The large regional bank held an average PEG ratio of 1.54 at yesterday's close.
Banking – The main regional industry is part of the financial sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Throughout the coming trading sessions, be sure to use Zacks.com to monitor all of these metrics impacting stocks and more.
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PNC Financial Services Group, Inc (PNC): Free Stock Analysis Report
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