Analysts expect PNC Financial Services Group Inc (NYSE:PNC) to report $4.14 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for PNC Financial Services Group’s earnings. The lowest sales estimate is $4.05 billion and the highest is $4.21 billion. PNC Financial Services Group posted sales of $3.88 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The business is expected to report its next earnings results before the market opens on Friday, April 13th.
According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $4.14 billion for the current year, with estimates ranging from $16.92 billion to $17.50 billion. For the next financial year, analysts anticipate that the firm will report sales of $18.03 billion per share, with estimates ranging from $17.74 billion to $18.58 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover PNC Financial Services Group.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.51% and a net margin of 29.60%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the company posted $1.97 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year.
PNC Financial Services Group (NYSE PNC) opened at $162.26 on Tuesday. PNC Financial Services Group has a 52 week low of $115.25 and a 52 week high of $163.59. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $77,200.00, a price-to-earnings ratio of 20.46, a PEG ratio of 1.52 and a beta of 0.90.
In other PNC Financial Services Group news, insider Robert Q. Reilly sold 19,576 shares of PNC Financial Services Group stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the transaction, the insider now directly owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total value of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares in the company, valued at $9,070,044. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Truewealth LLC acquired a new position in shares of PNC Financial Services Group in the 4th quarter valued at about $107,000. Crewe Advisors LLC acquired a new position in shares of PNC Financial Services Group in the 4th quarter valued at about $134,000. Resources Investment Advisors Inc. lifted its stake in shares of PNC Financial Services Group by 130.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 600 shares during the period. Capital Guardian Trust Co. acquired a new position in shares of PNC Financial Services Group in the 3rd quarter valued at about $154,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of PNC Financial Services Group in the 4th quarter valued at about $157,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.
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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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