PNC Financial Services Group Inc (NYSE:PNC) Expected to Post Quarterly Sales of $4.41 Billion

Equities analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will post sales of $4.41 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for PNC Financial Services Group’s earnings. The lowest sales estimate is $4.38 billion and the highest is $4.45 billion. PNC Financial Services Group reported sales of $4.36 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.1%. The business is scheduled to issue its next earnings results on Friday, October 11th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $17.60 billion for the current financial year, with estimates ranging from $17.49 billion to $17.67 billion. For the next financial year, analysts anticipate that the business will post sales of $17.94 billion, with estimates ranging from $17.66 billion to $18.18 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the firm earned $2.72 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year.



PNC has been the topic of several recent research reports. Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Friday, August 9th. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $143.41.

NYSE PNC traded down $1.86 during trading hours on Friday, hitting $124.56. The company’s stock had a trading volume of 65,215 shares, compared to its average volume of 2,149,572. PNC Financial Services Group has a 52 week low of $108.45 and a 52 week high of $147.00. The company has a market capitalization of $56.19 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company’s 50-day simple moving average is $136.56 and its two-hundred day simple moving average is $131.33.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were paid a $1.15 dividend. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, July 18th. This represents a $4.60 annualized dividend and a yield of 3.69%. PNC Financial Services Group’s dividend payout ratio (DPR) is 42.95%.

In other PNC Financial Services Group news, CEO William S. Demchak sold 75,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $140.63, for a total value of $10,547,250.00. Following the completion of the sale, the chief executive officer now owns 657,179 shares in the company, valued at approximately $92,419,082.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Hannon sold 5,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $138.41, for a total transaction of $692,050.00. Following the completion of the sale, the insider now owns 52,417 shares of the company’s stock, valued at approximately $7,255,036.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,242 shares of company stock valued at $19,853,468. Company insiders own 0.37% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Brightworth increased its stake in shares of PNC Financial Services Group by 4.1% during the 2nd quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 70 shares during the last quarter. Holistic Financial Partners boosted its holdings in PNC Financial Services Group by 3.9% in the 1st quarter. Holistic Financial Partners now owns 2,139 shares of the financial services provider’s stock worth $262,000 after buying an additional 80 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in PNC Financial Services Group by 0.7% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 11,211 shares of the financial services provider’s stock worth $1,539,000 after buying an additional 81 shares during the period. Nelson Roberts Investment Advisors LLC boosted its holdings in PNC Financial Services Group by 14.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 637 shares of the financial services provider’s stock worth $87,000 after buying an additional 82 shares during the period. Finally, Western Wealth Management LLC boosted its holdings in PNC Financial Services Group by 3.8% in the 2nd quarter. Western Wealth Management LLC now owns 2,253 shares of the financial services provider’s stock worth $306,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 81.83% 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: Example of operating income, EBIT and EBITDA

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

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