The PNC Financial Services Group, Inc (PNC) closed at $122.62 in the latest trading session, marking a +1.46% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.45%.
Coming into today, shares of the company had gained 2.64% in the past month. In that same time, the Finance sector gained 0.59%, while the S&P 500 lost 1.38%.
Investors will be hoping for strength from The PNC Financial Services Group, Inc as it approaches its next earnings release, which is expected to be October 13, 2023. The company is expected to report EPS of $3.23, down 14.55% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.36 billion, down 3.43% from the year-ago period.
PNC's full-year Zacks Consensus Estimates are calling for earnings of $13.52 per share and revenue of $21.6 billion. These results would represent year-over-year changes of -3.15% and +2.25%, respectively.
It is also important to note the recent changes to analyst estimates for The PNC Financial Services Group, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. The PNC Financial Services Group, Inc is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note The PNC Financial Services Group, Inc's current valuation metrics, including its Forward P/E ratio of 8.94. This valuation marks a premium compared to its industry's average Forward P/E of 8.13.
Investors should also note that PNC has a PEG ratio of 1.11 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.38 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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