Here's Why The PNC Financial Services Group, Inc (PNC) Fell More Than Broader Market
The PNC Financial Services Group, Inc (PNC) closed at $146.70 in the latest trading session, marking a -1.44% move from the prior day. This change lagged the S&P 500's 0.6% loss on the day. On the other hand, the Dow registered a loss of 0.17%, and the technology-centric Nasdaq decreased by 0.92%.
Heading into today, shares of the company had lost 0.39% over the past month, lagging the Finance sector's gain of 3.63% and the S&P 500's gain of 3.56% in that time.
Market participants will be closely following the financial results of The PNC Financial Services Group, Inc in its upcoming release. The company is expected to report EPS of $3.07, down 22.86% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $5.2 billion, indicating a 7.11% decline compared to the corresponding quarter of the prior year.
PNC's full-year Zacks Consensus Estimates are calling for earnings of $12.30 per share and revenue of $21.22 billion. These results would represent year-over-year changes of -12.77% and -1.25%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for The PNC Financial Services Group, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.17% higher. As of now, The PNC Financial Services Group, Inc holds a Zacks Rank of #3 (Hold).
Looking at valuation, The PNC Financial Services Group, Inc is presently trading at a Forward P/E ratio of 12.11. This denotes a premium relative to the industry's average Forward P/E of 10.66.
It is also worth noting that PNC currently has a PEG ratio of 1.73. 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 average PEG ratio for the Banks - Major Regional industry stood at 1.51 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 39, placing it within the top 16% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
