The PNC Financial Services Group, Inc (PNC) Stock Sinks As Market Gains: Here's Why
In the latest market close, The PNC Financial Services Group, Inc (PNC) reached $140.85, with a -0.11% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.46%. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.7%.
Shares of the company witnessed a gain of 17.89% over the previous month, beating the performance of the Finance sector with its gain of 7.77% and the S&P 500's gain of 4.85%.
Analysts and investors alike will be keeping a close eye on the performance of The PNC Financial Services Group, Inc in its upcoming earnings disclosure. The company's earnings report is set to go public on January 16, 2024. In that report, analysts expect The PNC Financial Services Group, Inc to post earnings of $3.01 per share. This would mark a year-over-year decline of 13.75%. 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.88 per share and a revenue of $21.42 billion, indicating changes of -0.57% and +1.44%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for The PNC Financial Services Group, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. As of now, The PNC Financial Services Group, Inc holds a Zacks Rank of #3 (Hold).
With respect to valuation, The PNC Financial Services Group, Inc is currently being traded at a Forward P/E ratio of 10.16. This represents a premium compared to its industry's average Forward P/E of 9.39.
It is also worth noting that PNC currently has a PEG ratio of 1.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.53.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 68, placing it within the top 27% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
