PNC Financial Services Group Inc (PNC) Expected to Announce Quarterly Sales of $4.14 Billion

Analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will post $4.14 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for PNC Financial Services Group’s earnings, with the lowest sales estimate coming in at $4.05 billion and the highest estimate coming in at $4.21 billion. PNC Financial Services Group reported sales of $3.88 billion in the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, April 12th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $4.14 billion for the current financial year, with estimates ranging from $16.85 billion to $17.50 billion. For the next year, analysts forecast that the business will post sales of $18.01 billion per share, with estimates ranging from $17.53 billion to $18.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. PNC Financial Services Group had a net margin of 49.08% and a return on equity of 17.21%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company earned $1.97 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year.

A number of research firms have issued reports on PNC. Morgan Stanley boosted their price objective on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services Group in a research report on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of PNC Financial Services Group in a research report on Tuesday, January 16th. Argus boosted their price objective on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada boosted their price objective on shares of PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research report on Friday, January 12th. Eighteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $145.98.

PNC Financial Services Group (NYSE:PNC) opened at $154.29 on Wednesday. PNC Financial Services Group has a 52-week low of $115.25 and a 52-week high of $160.07. The stock has a market cap of $73,410.00, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93.

The business also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s payout ratio is 28.76%.

In related news, insider Robert Q. Reilly sold 19,576 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the sale, the insider now owns 103,299 shares of the company’s stock, valued at $15,031,037.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider E William Parsley III sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total transaction of $3,467,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,894 shares of company stock worth $14,897,513 in the last ninety days. Insiders own 0.43% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in shares of PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after buying an additional 91 shares in the last quarter. Atlantic Trust LLC bought a new position in shares of PNC Financial Services Group in the second quarter worth approximately $129,000. Legacy Advisors LLC bought a new position in shares of PNC Financial Services Group in the third quarter worth approximately $136,000. Quadrant Capital Group LLC lifted its stake in shares of PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares in the last quarter. Finally, Resources Investment Advisors Inc. lifted its stake in shares of PNC Financial Services Group by 130.7% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after buying an additional 600 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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