$4.20 Billion in Sales Expected for The PNC Financial Services Group, Inc. (NYSE:PNC) This Quarter


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Brokerages predict that The PNC Financial Services Group, Inc. (NYSE:PNC) will announce $4.20 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for The PNC Financial Services Group’s earnings. The highest sales estimate is $4.28 billion and the lowest is $4.16 billion. The PNC Financial Services Group reported sales of $4.08 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The firm is scheduled to report its next earnings report on Wednesday, July 21st.

On average, analysts expect that The PNC Financial Services Group will report full year sales of $18.34 billion for the current fiscal year, with estimates ranging from $17.00 billion to $19.10 billion. For the next year, analysts anticipate that the business will post sales of $20.65 billion, with estimates ranging from $19.99 billion to $21.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for The PNC Financial Services Group.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $1.35. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.10 billion. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS.

Several research firms recently issued reports on PNC. Royal Bank of Canada boosted their price objective on The PNC Financial Services Group from $161.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, April 26th. Barclays boosted their target price on The PNC Financial Services Group from $171.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 7th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $182.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, April 26th. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $150.00 to $167.00 and gave the stock a “market perform” rating in a research note on Monday, January 18th. Finally, Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $169.00 to $183.00 and gave the stock a “hold” rating in a research note on Thursday, April 15th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $171.05.

Shares of PNC stock traded up $5.20 on Thursday, hitting $193.32. The stock had a trading volume of 2,685,972 shares, compared to its average volume of 1,968,460. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $81.97 billion, a P/E ratio of 11.57, a P/E/G ratio of 3.33 and a beta of 1.38. The PNC Financial Services Group has a 1 year low of $93.27 and a 1 year high of $193.66. The company’s 50 day moving average price is $178.54 and its 200-day moving average price is $154.13.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Stockholders of record on Friday, April 16th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, April 15th. The PNC Financial Services Group’s payout ratio is currently 40.39%.

In other news, EVP Karen L. Larrimer sold 3,205 shares of the business’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $156.92, for a total value of $502,928.60. Following the completion of the sale, the executive vice president now directly owns 24,580 shares of the company’s stock, valued at approximately $3,857,093.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,455 shares of company stock valued at $546,810 over the last three months. Company insiders own 0.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Boston Trust Walden Corp raised its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Boston Trust Walden Corp now owns 462,475 shares of the financial services provider’s stock valued at $81,123,000 after acquiring an additional 2,127 shares during the last quarter. Murphy Pohlad Asset Management LLC raised its stake in The PNC Financial Services Group by 5.1% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 20,520 shares of the financial services provider’s stock valued at $3,599,000 after acquiring an additional 1,000 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in The PNC Financial Services Group by 126.4% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 103,458 shares of the financial services provider’s stock valued at $15,416,000 after acquiring an additional 57,751 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in The PNC Financial Services Group by 1,057.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 39,797 shares of the financial services provider’s stock valued at $5,930,000 after acquiring an additional 36,358 shares during the last quarter. Finally, Brookstone Capital Management purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $234,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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