The PNC Financial Services Group, Inc (PNC) Ascends While Market Falls: Some Facts to Note
The PNC Financial Services Group, Inc (PNC) closed at $139.36 in the latest trading session, marking a +0.5% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 14.8% over the past month, outpacing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08% in that time.
The upcoming earnings release of The PNC Financial Services Group, Inc will be of great interest to investors. The company's earnings report is expected on January 16, 2024. The company is expected to report EPS of $3.01, down 13.75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $5.27 billion, indicating an 8.59% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.88 per share and a revenue of $21.42 billion, signifying shifts of -0.57% and +1.44%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for The PNC Financial Services Group, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.09% upward. The PNC Financial Services Group, Inc is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that The PNC Financial Services Group, Inc has a Forward P/E ratio of 9.99 right now. This indicates a premium in contrast to its industry's Forward P/E of 9.13.
It is also worth noting that PNC currently has a PEG ratio of 1.24. 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 1.47 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% 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
