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The PNC Financial Services Group, Inc (PNC) Stock Sinks As Market Gains: What You Should Know
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The PNC Financial Services Group, Inc (PNC - Free Report) closed the most recent trading day at $127.41, moving -1.18% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Prior to today's trading, shares of the company had gained 15.55% over the past month. This has outpaced the Finance sector's gain of 3.55% and the S&P 500's gain of 4.61% in that time.
Wall Street will be looking for positivity from The PNC Financial Services Group, Inc as it approaches its next earnings report date. This is expected to be July 18, 2023. In that report, analysts expect The PNC Financial Services Group, Inc to post earnings of $3.35 per share. This would mark a year-over-year decline of 2.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.47 billion, up 6.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.96 per share and revenue of $22.06 billion, which would represent changes of 0% and +4.47%, respectively, from the prior year.
Any recent changes to analyst estimates for The PNC Financial Services Group, Inc should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. The PNC Financial Services Group, Inc is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, The PNC Financial Services Group, Inc is currently trading at a Forward P/E ratio of 9.23. Its industry sports an average Forward P/E of 7.97, so we one might conclude that The PNC Financial Services Group, Inc is trading at a premium comparatively.
Investors should also note that PNC has a PEG ratio of 1.14 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PNC's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The PNC Financial Services Group, Inc (PNC) Stock Sinks As Market Gains: What You Should Know
The PNC Financial Services Group, Inc (PNC - Free Report) closed the most recent trading day at $127.41, moving -1.18% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Prior to today's trading, shares of the company had gained 15.55% over the past month. This has outpaced the Finance sector's gain of 3.55% and the S&P 500's gain of 4.61% in that time.
Wall Street will be looking for positivity from The PNC Financial Services Group, Inc as it approaches its next earnings report date. This is expected to be July 18, 2023. In that report, analysts expect The PNC Financial Services Group, Inc to post earnings of $3.35 per share. This would mark a year-over-year decline of 2.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.47 billion, up 6.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.96 per share and revenue of $22.06 billion, which would represent changes of 0% and +4.47%, respectively, from the prior year.
Any recent changes to analyst estimates for The PNC Financial Services Group, Inc should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. The PNC Financial Services Group, Inc is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, The PNC Financial Services Group, Inc is currently trading at a Forward P/E ratio of 9.23. Its industry sports an average Forward P/E of 7.97, so we one might conclude that The PNC Financial Services Group, Inc is trading at a premium comparatively.
Investors should also note that PNC has a PEG ratio of 1.14 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PNC's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.