The PNC Financial Services Group, Inc (PNC) Ascends While Market Falls: Some Facts to Note
In the latest trading session, The PNC Financial Services Group, Inc (PNC) closed at $152.84, marking a +1.67% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.11%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Shares of the company witnessed a gain of 1.73% over the previous month, trailing the performance of the Finance sector with its gain of 4.89% and the S&P 500's gain of 2.7%.
Market participants will be closely following the financial results of The PNC Financial Services Group, Inc in its upcoming release. The company plans to announce its earnings on April 16, 2024. It is anticipated that the company will report an EPS of $3.05, marking a 23.37% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.2 billion, indicating a 7.21% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.29 per share and a revenue of $21.2 billion, representing changes of -12.84% and -1.34%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% decrease. At present, The PNC Financial Services Group, Inc boasts a Zacks Rank of #3 (Hold).
In terms of valuation, The PNC Financial Services Group, Inc is presently being traded at a Forward P/E ratio of 12.23. This valuation marks a premium compared to its industry's average Forward P/E of 11.17.
One should further note that PNC currently holds a PEG ratio of 1.75. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Banks - Major Regional industry had an average PEG ratio of 1.59 as trading concluded yesterday.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
