Wall Street brokerages expect that PNC Financial Services (NYSE:PNC) will post sales of $4.26 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for PNC Financial Services’ earnings, with the highest sales estimate coming in at $4.28 billion and the lowest estimate coming in at $4.24 billion. PNC Financial Services reported sales of $4.06 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The business is expected to issue its next quarterly earnings results on Friday, July 13th.
According to Zacks, analysts expect that PNC Financial Services will report full year sales of $17.11 billion for the current year, with estimates ranging from $16.94 billion to $17.32 billion. For the next fiscal year, analysts anticipate that the business will report sales of $17.94 billion per share, with estimates ranging from $17.74 billion to $18.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover PNC Financial Services.
PNC Financial Services (NYSE:PNC) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.01. PNC Financial Services had a net margin of 29.85% and a return on equity of 9.82%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis.
PNC Financial Services stock traded down $0.35 during trading on Friday, reaching $148.15. The stock had a trading volume of 945,506 shares, compared to its average volume of 2,240,312. PNC Financial Services has a 52-week low of $116.63 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 company has a market capitalization of $70.30 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.41 and a beta of 0.91.
The firm also recently announced a quarterly dividend, which was paid on Saturday, May 5th. Stockholders of record on Monday, April 16th were issued a $0.75 dividend. The ex-dividend date was Friday, April 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.02%. PNC Financial Services’s payout ratio is 35.29%.
Several institutional investors have recently made changes to their positions in PNC. Stelac Advisory Services LLC acquired a new position in shares of PNC Financial Services in the 1st quarter valued at $102,000. Braun Bostich & Associates Inc. acquired a new position in shares of PNC Financial Services in the 1st quarter valued at $105,000. Truewealth LLC acquired a new position in shares of PNC Financial Services in the 4th quarter valued at $107,000. Crewe Advisors LLC acquired a new position in shares of PNC Financial Services in the 4th quarter valued at $134,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of PNC Financial Services in the 1st quarter valued at $150,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.
About PNC Financial Services
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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