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The PNC Financial Services Group, Inc (PNC) Gains As Market Dips: What You Should Know
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In the latest trading session, The PNC Financial Services Group, Inc (PNC - Free Report) closed at $125.61, marking a +1.4% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Coming into today, shares of the company had lost 3.86% in the past month. In that same time, the Finance sector gained 1.66%, while the S&P 500 gained 3.1%.
Investors will be hoping for strength from The PNC Financial Services Group, Inc as it approaches its next earnings release, which is expected to be July 18, 2023. In that report, analysts expect The PNC Financial Services Group, Inc to post earnings of $3.28 per share. This would mark a year-over-year decline of 4.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.43 billion, up 6.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.64 per share and revenue of $21.93 billion. These totals would mark changes of -2.29% and +3.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for The PNC Financial Services Group, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.35% lower. The PNC Financial Services Group, Inc is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note The PNC Financial Services Group, Inc's current valuation metrics, including its Forward P/E ratio of 9.09. For comparison, its industry has an average Forward P/E of 8, which means The PNC Financial Services Group, Inc is trading at a premium to the group.
It is also worth noting that PNC currently has a PEG ratio of 1.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional was holding an average PEG ratio of 1.27 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PNC in the coming trading sessions, be sure to utilize Zacks.com.
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The PNC Financial Services Group, Inc (PNC) Gains As Market Dips: What You Should Know
In the latest trading session, The PNC Financial Services Group, Inc (PNC - Free Report) closed at $125.61, marking a +1.4% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Coming into today, shares of the company had lost 3.86% in the past month. In that same time, the Finance sector gained 1.66%, while the S&P 500 gained 3.1%.
Investors will be hoping for strength from The PNC Financial Services Group, Inc as it approaches its next earnings release, which is expected to be July 18, 2023. In that report, analysts expect The PNC Financial Services Group, Inc to post earnings of $3.28 per share. This would mark a year-over-year decline of 4.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.43 billion, up 6.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.64 per share and revenue of $21.93 billion. These totals would mark changes of -2.29% and +3.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for The PNC Financial Services Group, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.35% lower. The PNC Financial Services Group, Inc is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note The PNC Financial Services Group, Inc's current valuation metrics, including its Forward P/E ratio of 9.09. For comparison, its industry has an average Forward P/E of 8, which means The PNC Financial Services Group, Inc is trading at a premium to the group.
It is also worth noting that PNC currently has a PEG ratio of 1.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional was holding an average PEG ratio of 1.27 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PNC in the coming trading sessions, be sure to utilize Zacks.com.