Brokerages Anticipate The PNC Financial Services Group, Inc. (NYSE:PNC) Will Post Quarterly Sales of $4.20 Billion

Equities research analysts forecast that The PNC Financial Services Group, Inc. (NYSE:PNC) will announce $4.20 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for The PNC Financial Services Group’s earnings. The lowest sales estimate is $4.16 billion and the highest is $4.28 billion. The PNC Financial Services Group reported sales of $4.08 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is expected to report its next earnings results on Wednesday, July 21st.

According to Zacks, analysts expect that The PNC Financial Services Group will report full-year sales of $18.34 billion for the current financial year, with estimates ranging from $17.00 billion to $19.10 billion. For the next financial year, analysts forecast that the company will report sales of $20.65 billion, with estimates ranging from $19.99 billion to $21.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of 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 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 analysts’ expectations of $4.10 billion. The PNC Financial Services Group had a net margin of 38.16% and a return on equity of 5.97%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company posted $1.95 EPS.

Several research firms have recently weighed in on PNC. Smith Barney Citigroup upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $140.00 to $179.00 in a research report on Monday, January 11th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $182.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, April 26th. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $150.00 to $167.00 and gave the stock a “market perform” rating in a research report on Monday, January 18th. Royal Bank of Canada lifted their target price on shares of The PNC Financial Services Group from $161.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, April 26th. Finally, Credit Suisse Group lifted their target price on shares of The PNC Financial Services Group from $170.00 to $178.00 and gave the stock a “neutral” rating in a research report on Monday, April 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $171.05.

In other news, EVP Karen L. Larrimer sold 3,205 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $156.92, for a total transaction of $502,928.60. Following the sale, the executive vice president now owns 24,580 shares of the company’s stock, valued at approximately $3,857,093.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,455 shares of company stock worth $546,810 in the last ninety days. Insiders own 0.30% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Sugarloaf Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $26,000. Vantage Consulting Group Inc bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $27,000. Better Money Decisions LLC bought a new stake in The PNC Financial Services Group during the first quarter worth about $28,000. Clark Financial Advisors bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $29,000. Finally, Accel Wealth Management bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $29,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of The PNC Financial Services Group stock traded up $5.20 on Thursday, hitting $193.32. 2,685,972 shares of the company traded hands, compared to its average volume of 1,968,460. The firm’s 50-day simple moving average is $178.54 and its 200 day simple moving average is $154.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The company has a market cap 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 12-month low of $93.27 and a 12-month high of $193.66.

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

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.

See Also: 12b-1 Fees

Get a free copy of the Zacks research report on The PNC Financial Services Group (PNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.