Zacks: Brokerages Anticipate PNC Financial Services Group Inc (PNC) to Post $2.60 EPS

Equities analysts predict that PNC Financial Services Group Inc (NYSE:PNC) will report earnings of $2.60 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for PNC Financial Services Group’s earnings, with the lowest EPS estimate coming in at $2.57 and the highest estimate coming in at $2.62. PNC Financial Services Group reported earnings per share of $2.10 during the same quarter last year, which suggests a positive year over year growth rate of 23.8%. The firm is expected to announce its next earnings results on Friday, July 13th.

On average, analysts expect that PNC Financial Services Group will report full-year earnings of $10.51 per share for the current fiscal year, with EPS estimates ranging from $10.27 to $10.83. For the next year, analysts anticipate that the firm will report earnings of $11.60 per share, with EPS estimates ranging from $11.37 to $12.29. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover PNC Financial Services Group.

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PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.01. PNC Financial Services Group had a net margin of 29.85% and a return on equity of 9.83%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis.

PNC has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $162.00 target price on shares of PNC Financial Services Group in a report on Friday, December 29th. Morgan Stanley upped their target price on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Goldman Sachs cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Bank of America upped their target price on shares of PNC Financial Services Group from $160.00 to $166.00 and gave the company a “buy” rating in a report on Tuesday, March 13th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $150.00 target price on shares of PNC Financial Services Group in a report on Friday, January 5th. Nineteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $149.26.

PNC stock traded up $2.11 during midday trading on Friday, reaching $143.77. 1,406,265 shares of the company’s stock traded hands, compared to its average volume of 2,345,386. PNC Financial Services Group has a 52-week low of $115.66 and a 52-week high of $163.59. The stock has a market cap of $66,428.23, a P/E ratio of 16.87, a P/E/G ratio of 1.33 and a beta of 0.91. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24.

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 5th. Investors of record on Monday, April 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, April 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.09%. PNC Financial Services Group’s dividend payout ratio is 35.29%.

Several large investors have recently modified their holdings of PNC. Harbour Capital Advisors LLC raised its stake in PNC Financial Services Group by 4.9% during the fourth quarter. Harbour Capital Advisors LLC now owns 6,833 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 320 shares in the last quarter. First Commonwealth Financial Corp PA raised its stake in PNC Financial Services Group by 2.2% during the fourth quarter. First Commonwealth Financial Corp PA now owns 15,417 shares of the financial services provider’s stock valued at $2,225,000 after purchasing an additional 330 shares in the last quarter. Global X Management Co. LLC raised its stake in PNC Financial Services Group by 3.8% during the fourth quarter. Global X Management Co. LLC now owns 9,939 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 362 shares in the last quarter. Brighton Jones LLC raised its stake in PNC Financial Services Group by 22.0% during the fourth quarter. Brighton Jones LLC now owns 2,083 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 375 shares in the last quarter. Finally, FineMark National Bank & Trust raised its stake in PNC Financial Services Group by 6.8% during the fourth quarter. FineMark National Bank & Trust now owns 5,904 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

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PNC Financial Services Group Company Profile

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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