The PNC Financial Services Group, Inc (PNC) Gains As Market Dips: What You Should Know
The most recent trading session ended with The PNC Financial Services Group, Inc (PNC) standing at $155.12, reflecting a +0.9% shift from the previouse trading day's closing. This change outpaced the S&P 500's 1.02% loss on the day. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
Prior to today's trading, shares of the company had gained 5.42% over the past month. This has outpaced the Finance sector's gain of 3.9% and the S&P 500's gain of 3.64% in that time.
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 April 16, 2024. The company is predicted to post an EPS of $3.05, indicating a 23.37% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.2 billion, down 7.21% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.29 per share and revenue of $21.2 billion. These totals would mark changes of -12.84% and -1.34%, respectively, from last year.
Investors should also pay attention to any latest changes in 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, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% decrease. Currently, The PNC Financial Services Group, Inc is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that The PNC Financial Services Group, Inc has a Forward P/E ratio of 12.51 right now. For comparison, its industry has an average Forward P/E of 10.85, which means The PNC Financial Services Group, Inc is trading at a premium to the group.
Investors should also note that PNC has a PEG ratio of 1.79 right now. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 27, this industry ranks in the top 11% of all industries, numbering over 250.
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
