Analysts Expect PNC Financial Services Group Inc (PNC) Will Announce Earnings of $2.72 Per Share

Equities research analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will announce earnings of $2.72 per share for the current quarter, Zacks reports. Five analysts have issued estimates for PNC Financial Services Group’s earnings. The lowest EPS estimate is $2.67 and the highest is $2.77. PNC Financial Services Group posted earnings per share of $2.16 in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.9%. The business is expected to issue its next earnings results before the market opens on Friday, October 12th.

According to Zacks, analysts expect that PNC Financial Services Group will report full-year earnings of $10.71 per share for the current financial year, with EPS estimates ranging from $10.50 to $10.80. For the next year, analysts anticipate that the company will report earnings of $11.61 per share, with EPS estimates ranging from $11.32 to $11.95. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, July 13th. The financial services provider reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.14. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.23 billion. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%.

In related news, insider Michael P. Lyons sold 14,000 shares of the business’s stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $140.87, for a total value of $1,972,180.00. Following the sale, the insider now directly owns 124,841 shares in the company, valued at $17,586,351.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Q. Reilly sold 24,710 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the sale, the executive vice president now owns 131,020 shares in the company, valued at $18,406,999.80. The disclosure for this sale can be found here. Insiders sold 58,957 shares of company stock worth $8,301,859 over the last quarter. 0.38% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Braun Bostich & Associates Inc. purchased a new stake in shares of PNC Financial Services Group in the first quarter worth about $105,000. McKinley Carter Wealth Services Inc. bought a new stake in PNC Financial Services Group during the first quarter worth approximately $150,000. Landaas & Co. WI ADV bought a new stake in PNC Financial Services Group during the second quarter worth approximately $147,000. Archford Capital Strategies LLC increased its stake in PNC Financial Services Group by 197.0% during the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 723 shares during the last quarter. Finally, Kaizen Advisory LLC increased its stake in PNC Financial Services Group by 147.8% during the second quarter. Kaizen Advisory LLC now owns 1,150 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 686 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

NYSE:PNC opened at $138.52 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $63.23 billion, a P/E ratio of 16.30, a PEG ratio of 1.24 and a beta of 0.92. PNC Financial Services Group has a 12 month low of $130.46 and a 12 month high of $163.59.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Wednesday, October 17th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.74%. PNC Financial Services Group’s dividend payout ratio is currently 44.71%.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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.

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

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