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The PNC Financial Services Group, Inc (PNC) Stock Moves -0.2%: What You Should Know
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In the latest trading session, The PNC Financial Services Group, Inc (PNC - Free Report) closed at $119.78, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.37%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Heading into today, shares of the company had lost 1.8% over the past month, outpacing the Finance sector's loss of 4.93% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from The PNC Financial Services Group, Inc as it approaches its next earnings report date. This is expected to be October 13, 2023. The company is expected to report EPS of $3.21, down 15.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.35 billion, down 3.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.51 per share and revenue of $21.58 billion, which would represent changes of -3.22% and +2.2%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for The PNC Financial Services Group, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.05% higher. The PNC Financial Services Group, Inc is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, The PNC Financial Services Group, Inc is currently trading at a Forward P/E ratio of 8.89. This represents a premium compared to its industry's average Forward P/E of 7.85.
We can also see that PNC currently has a PEG ratio of 1.1. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.21 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The PNC Financial Services Group, Inc (PNC) Stock Moves -0.2%: What You Should Know
In the latest trading session, The PNC Financial Services Group, Inc (PNC - Free Report) closed at $119.78, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.37%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Heading into today, shares of the company had lost 1.8% over the past month, outpacing the Finance sector's loss of 4.93% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from The PNC Financial Services Group, Inc as it approaches its next earnings report date. This is expected to be October 13, 2023. The company is expected to report EPS of $3.21, down 15.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.35 billion, down 3.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.51 per share and revenue of $21.58 billion, which would represent changes of -3.22% and +2.2%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for The PNC Financial Services Group, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.05% higher. The PNC Financial Services Group, Inc is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, The PNC Financial Services Group, Inc is currently trading at a Forward P/E ratio of 8.89. This represents a premium compared to its industry's average Forward P/E of 7.85.
We can also see that PNC currently has a PEG ratio of 1.1. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.21 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.