$2.83 EPS Expected for PNC Financial Services Group Inc (NYSE:PNC) This Quarter

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Brokerages predict that PNC Financial Services Group Inc (NYSE:PNC) will report earnings per share (EPS) of $2.83 for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for PNC Financial Services Group’s earnings, with estimates ranging from $2.71 to $2.90. PNC Financial Services Group reported earnings of $2.72 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The business is scheduled to issue its next quarterly earnings report on Friday, July 12th.

On average, analysts expect that PNC Financial Services Group will report full year earnings of $11.33 per share for the current year, with EPS estimates ranging from $11.03 to $11.55. For the next year, analysts forecast that the firm will report earnings of $12.17 per share, with EPS estimates ranging from $11.65 to $12.58. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the business earned $2.43 EPS.

Several research analysts have issued reports on PNC shares. Morgan Stanley raised their price target on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Barclays raised their price target on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group set a $133.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $143.63.

PNC Financial Services Group stock traded up $1.46 during mid-day trading on Friday, hitting $135.19. 72,468 shares of the stock were exchanged, compared to its average volume of 1,340,727. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.88. PNC Financial Services Group has a 12 month low of $108.45 and a 12 month high of $147.23. The firm has a market cap of $60.54 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.56 and a beta of 1.09.

In other news, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the sale, the insider now owns 24,747 shares in the company, valued at approximately $3,340,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in PNC Financial Services Group by 1.3% during the 4th quarter. BlackRock Inc. now owns 27,642,474 shares of the financial services provider’s stock valued at $3,231,680,000 after purchasing an additional 341,904 shares in the last quarter. FMR LLC increased its stake in PNC Financial Services Group by 3.8% during the 1st quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after purchasing an additional 407,250 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in PNC Financial Services Group by 11,450.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,000,055 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 5,948,109 shares in the last quarter. Geode Capital Management LLC increased its stake in PNC Financial Services Group by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 5,726,525 shares of the financial services provider’s stock valued at $701,055,000 after purchasing an additional 178,780 shares in the last quarter. Finally, Northern Trust Corp increased its stake in PNC Financial Services Group by 1.4% during the 4th quarter. Northern Trust Corp now owns 5,341,413 shares of the financial services provider’s stock valued at $624,465,000 after purchasing an additional 71,882 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

See Also: What are Institutional Investors?

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Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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