In recent market close, PNC Financial Services Group (PNC) hit $156.88, moving -0.17% from previous day. The stock outperformed the S&P 500, which fell 1.23% on the day. Elsewhere, the Dow Jones Industrial Average fell 1.36% and the tech-heavy Nasdaq fell 1.4%.
Heading into today, shares of the company had gained 4.5% over the past month, outpacing the Financials sector's gain of 2.76% and the S&P 500's gain of 1.61% in that time.
PNC Financial Services Group, Inc.'s upcoming earnings release will be of great interest to investors. The company's earnings report is scheduled for April 16, 2024. The company's EPS is expected to be $3.06, a decrease of 23.12% compared to the same period last year. Meanwhile, the Zacks Consensus Estimate for net sales is projecting net sales of $5.19 billion, down 7.33% from the year-ago period.
For the full fiscal year, our Zacks Consensus Estimates are projecting earnings of $12.41 per share and revenue of $21.17 billion, which would represent changes of -11.99% and -1.48%, respectively, from the prior year. Masu.
It is also important to note any recent changes to analyst estimates for PNC Financial Services Group, Inc.. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these estimate changes have a direct relationship with future stock performance. We developed the Zacks Rank to take advantage of this phenomenon. Our system takes these estimate changes into account and provides a clear and actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 ranked stocks generating an average annual return of +25% since 1988. is producing. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. PNC Financial Services Group, Inc currently carries a Zacks Rank #3 (Hold).
Looking at PNC Financial Services Group, Inc.'s valuation, the forward P/E ratio is 12.66. This is a premium compared to its industry's average Forward P/E of 11.24.
Investors should also note that PNC currently has a PEG ratio of 1.81. 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. As of yesterday's market close, the average PEG ratio for Banks and Major Regional Industries was 1.67.
Banking – The main regional industry is part of the financial sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank is ordered from highest to lowest based on the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Track all of these stock price movement metrics and more with Zacks.com in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today you can download 7 Best Stocks for the Next 30 Days.Click to get this free report
PNC Financial Services Group, Inc (PNC): Free Stock Analysis Report
Click here to read this article on Zacks.com.
Zacks Investment Research
