We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shares of PNC Financial (PNC - Free Report) climbed as part of Wednesday’s broader market resurgence. Still, the recent volatility is likely far from over after trade war speculation revved up once again. This means that investors will be on the lookout for stocks that are expected to perform well during the upcoming first quarter earnings season.
PNC had seen its stock price climb 30% over the last year before it slipped in early March, along with many other financial services firms during the tech-induced selloff. Luckily for investors, a market-driven decline is more manageable than a company-specific, fundamental related downturn.
This doesn’t mean that investors should just dive back into PNC based on market trends. They should instead focus on some of PNC’s most important fundamentals and see how the banking giant is expected to perform in the first quarter.
With that said, let’s jump into some PNC projections ahead of its upcoming Q1 financial results, as investors look to find much-needed stability.
Latest Outlook
PNC’s first quarter revenues are expected to climb by 7.1% to hit $4.16 billion, based on our current Zacks Consensus Estimates. Meanwhile, the bank is projected to see its quarterly earnings soar by 23.5% to reach $2.42 per share.
PNC’s recent earnings estimate revision activity has been mixed, with PNC earning three upward earnings estimate revisions against two downward revisions, all within the last 30 days. However, within the last seven days, PNC has earned two earnings estimate revisions, with 100% agreement to the upside.
As we approach the release of PNC’s first quarter 2018 financial results, the firm’s Most Accurate Estimate is currently $2.43 per share.
Valuation
PNC is currently trading with a Forward P/E of 13.9. This marks a relatively large premium compared to the “Banks - Major Regional” industry, which is currently trading at an average of 11.8x forward earnings.
However, PNC’s current valuation marks a discount compared to where it had been trading at during the last few months.
Shares of PNC had dipped more than 5% over the last four weeks, which is a major reason for PNC’s newly discounted valuation. Investors should also note that the regional banking industry’s decline far outpaces PNC’s recent downturn.
Price Performance and Surprise History
Another important thing to consider ahead of PNC’s Q1 report is the company’s history of earnings surprises and the effect that these surprises have had on share prices.
The PNC Financial Services Group, Inc Price, Consensus and EPS Surprise
We can see that PNC’s has posted strong results over the last few of years. It is also worth noting that PNC’s stock price has performed really well following the release of its quarterly earnings results in four of the last six quarters.
Bottom Line
Past performance is no indicator of future success. But investors should remember that PNC’s top line is expected to grow, while its bottom line is projected to expand by over 23%. Better still, PNC has earned two upward earnings estimate revisions within the last seven days and is currently a Zacks Rank #3 (Hold).
PNC is scheduled to report its first quarter 2018 financial results before markets open on Friday, April 13.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
An Early Preview of PNC's Q1 Earnings Outlook
Shares of PNC Financial (PNC - Free Report) climbed as part of Wednesday’s broader market resurgence. Still, the recent volatility is likely far from over after trade war speculation revved up once again. This means that investors will be on the lookout for stocks that are expected to perform well during the upcoming first quarter earnings season.
PNC had seen its stock price climb 30% over the last year before it slipped in early March, along with many other financial services firms during the tech-induced selloff. Luckily for investors, a market-driven decline is more manageable than a company-specific, fundamental related downturn.
This doesn’t mean that investors should just dive back into PNC based on market trends. They should instead focus on some of PNC’s most important fundamentals and see how the banking giant is expected to perform in the first quarter.
With that said, let’s jump into some PNC projections ahead of its upcoming Q1 financial results, as investors look to find much-needed stability.
Latest Outlook
PNC’s first quarter revenues are expected to climb by 7.1% to hit $4.16 billion, based on our current Zacks Consensus Estimates. Meanwhile, the bank is projected to see its quarterly earnings soar by 23.5% to reach $2.42 per share.
PNC’s recent earnings estimate revision activity has been mixed, with PNC earning three upward earnings estimate revisions against two downward revisions, all within the last 30 days. However, within the last seven days, PNC has earned two earnings estimate revisions, with 100% agreement to the upside.
As we approach the release of PNC’s first quarter 2018 financial results, the firm’s Most Accurate Estimate is currently $2.43 per share.
Valuation
PNC is currently trading with a Forward P/E of 13.9. This marks a relatively large premium compared to the “Banks - Major Regional” industry, which is currently trading at an average of 11.8x forward earnings.
However, PNC’s current valuation marks a discount compared to where it had been trading at during the last few months.
Shares of PNC had dipped more than 5% over the last four weeks, which is a major reason for PNC’s newly discounted valuation. Investors should also note that the regional banking industry’s decline far outpaces PNC’s recent downturn.
Price Performance and Surprise History
Another important thing to consider ahead of PNC’s Q1 report is the company’s history of earnings surprises and the effect that these surprises have had on share prices.
The PNC Financial Services Group, Inc Price, Consensus and EPS Surprise
The PNC Financial Services Group, Inc Price, Consensus and EPS Surprise | The PNC Financial Services Group, Inc Quote
We can see that PNC’s has posted strong results over the last few of years. It is also worth noting that PNC’s stock price has performed really well following the release of its quarterly earnings results in four of the last six quarters.
Bottom Line
Past performance is no indicator of future success. But investors should remember that PNC’s top line is expected to grow, while its bottom line is projected to expand by over 23%. Better still, PNC has earned two upward earnings estimate revisions within the last seven days and is currently a Zacks Rank #3 (Hold).
PNC is scheduled to report its first quarter 2018 financial results before markets open on Friday, April 13.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>