The PNC Financial Services Group, Inc (PNC) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with The PNC Financial Services Group, Inc (PNC) standing at $151.41, reflecting a -0.6% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.45% for the day.
The investment community will be closely monitoring the performance of The PNC Financial Services Group, Inc in its forthcoming earnings report. The company is scheduled to release its earnings 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%. Our most recent consensus estimate is calling for quarterly revenue of $5.27 billion, down 8.59% from the year-ago period.
PNC's full-year Zacks Consensus Estimates are calling for earnings of $13.88 per share and revenue of $21.42 billion. These results would represent year-over-year changes of -0.57% and +1.44%, 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.09% upward. As of now, The PNC Financial Services Group, Inc holds a Zacks Rank of #3 (Hold).
From a valuation perspective, The PNC Financial Services Group, Inc is currently exchanging hands at a Forward P/E ratio of 10.98. For comparison, its industry has an average Forward P/E of 10.3, which means The PNC Financial Services Group, Inc is trading at a premium to the group.
One should further note that PNC currently holds a PEG ratio of 1.36. 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 of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.75.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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
