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Is a Beat in Store for PNC Financial (PNC) in Q4 Earnings?
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We expect The PNC Financial Services Group, Inc. (PNC - Free Report) to beat earnings expectations when it report fourth-quarter 2016 results, before the opening bell on Jan 13.
Why a Likely Positive Surprise?
Our proven model shows that PNC Financial has the right combination of two key ingredients to beat earnings.
Zacks ESP: Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, stands at +1.61%. This is a major indicator of a likely positive earnings surprise for the company. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PNC Financial carries a Zacks Rank #2 (Buy). Note that stocks with a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold) have a significantly higher chance of beating earnings.
The combination of PNC Financial’s Zacks Rank #2 and ESP of +1.61% makes us confident of an earnings beat.
Further, the company boasts a decent earnings surprise history. PNC Financial posted an earnings beat in three of the trailing four quarters, with an average positive earnings surprise of 2.7%.
PNC Financial Services Group, Inc. (The) Price and EPS Surprise
Shares of PNC Financial gained 34.4% over the past one year, outperforming the Zacks categorized Banks – Major Regional industry’s 31.5% growth.
What’s in Store in Q4?
PNC Financial’s NII is expected to remain stable in fourth-quarter 2016. Also, fee income is likely to remain flat. Purchase accounting accretion is estimated at around $50 million.
Non-interest expense is projected to rise sequentially at low single digits due to seasonally higher expenses and continued investments. Further, loan loss provision is estimated within $75–$125 million.
Period-end loans are projected to rise modestly during the quarter.
PNC Financial’s activities during the quarter were enough to win analysts’ confidence. As a result, over the last seven days, the Zacks Consensus Estimate for the quarter’s earnings increased slightly to $1.86.
Other Stocks to Consider
Here are some other stocks you may want to consider, as according to our model, these have the right combination of elements to post an earnings beat this quarter.
The earnings ESP for Citigroup Inc. (C - Free Report) is +3.60% and it carries a Zacks Rank #2. The company is expected to release fourth-quarter results on Jan 18.
The Goldman Sachs Group, Inc. (GS - Free Report) has an earnings ESP of +3.17% and a Zacks Rank #1. It is slated to report fourth-quarter results on Jan 18.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Is a Beat in Store for PNC Financial (PNC) in Q4 Earnings?
We expect The PNC Financial Services Group, Inc. (PNC - Free Report) to beat earnings expectations when it report fourth-quarter 2016 results, before the opening bell on Jan 13.
Why a Likely Positive Surprise?
Our proven model shows that PNC Financial has the right combination of two key ingredients to beat earnings.
Zacks ESP: Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, stands at +1.61%. This is a major indicator of a likely positive earnings surprise for the company. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PNC Financial carries a Zacks Rank #2 (Buy). Note that stocks with a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold) have a significantly higher chance of beating earnings.
The combination of PNC Financial’s Zacks Rank #2 and ESP of +1.61% makes us confident of an earnings beat.
Further, the company boasts a decent earnings surprise history. PNC Financial posted an earnings beat in three of the trailing four quarters, with an average positive earnings surprise of 2.7%.
PNC Financial Services Group, Inc. (The) Price and EPS Surprise
PNC Financial Services Group, Inc. (The) Price and EPS Surprise | PNC Financial Services Group, Inc. (The) Quote
Shares of PNC Financial gained 34.4% over the past one year, outperforming the Zacks categorized Banks – Major Regional industry’s 31.5% growth.
What’s in Store in Q4?
PNC Financial’s NII is expected to remain stable in fourth-quarter 2016. Also, fee income is likely to remain flat. Purchase accounting accretion is estimated at around $50 million.
Non-interest expense is projected to rise sequentially at low single digits due to seasonally higher expenses and continued investments. Further, loan loss provision is estimated within $75–$125 million.
Period-end loans are projected to rise modestly during the quarter.
PNC Financial’s activities during the quarter were enough to win analysts’ confidence. As a result, over the last seven days, the Zacks Consensus Estimate for the quarter’s earnings increased slightly to $1.86.
Other Stocks to Consider
Here are some other stocks you may want to consider, as according to our model, these have the right combination of elements to post an earnings beat this quarter.
BB&T Corporation has an earnings ESP of +1.37% and a Zacks Rank #2. It is scheduled to report fourth-quarter results on Jan 19. You can see the complete list of today’s Zacks #1 Rank stocks here.
The earnings ESP for Citigroup Inc. (C - Free Report) is +3.60% and it carries a Zacks Rank #2. The company is expected to release fourth-quarter results on Jan 18.
The Goldman Sachs Group, Inc. (GS - Free Report) has an earnings ESP of +3.17% and a Zacks Rank #1. It is slated to report fourth-quarter results on Jan 18.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>