The PNC Financial Services Group, Inc (PNC) Gains But Lags Market: What You Should Know
The PNC Financial Services Group, Inc (PNC) closed the most recent trading day at $157.52, moving +0.83% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.41%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.
Coming into today, shares of the company had gained 11.06% in the past month. In that same time, the Finance sector gained 5.34%, while the S&P 500 gained 2.9%.
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. The company's upcoming EPS is projected at $2.83, signifying a 18.91% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.28 billion, reflecting an 8.46% fall from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for The PNC Financial Services Group, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% higher. Right now, The PNC Financial Services Group, Inc possesses a Zacks Rank of #3 (Hold).
Digging into valuation, The PNC Financial Services Group, Inc currently has a Forward P/E ratio of 12.76. For comparison, its industry has an average Forward P/E of 10.66, which means The PNC Financial Services Group, Inc is trading at a premium to the group.
It's also important to note that PNC currently trades at a PEG ratio of 1.82. 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. The Banks - Major Regional industry had an average PEG ratio of 1.7 as trading concluded yesterday.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
