Analysts Anticipate PNC Financial Services Group Inc (PNC) Will Announce Quarterly Sales of $4.14 Billion

Analysts expect PNC Financial Services Group Inc (NYSE:PNC) to report sales of $4.14 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for PNC Financial Services Group’s earnings, with estimates ranging from $4.05 billion to $4.21 billion. PNC Financial Services Group reported sales of $3.88 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.7%. The company is expected to report its next earnings report 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 year, with estimates ranging from $16.85 billion to $17.50 billion. For the next financial year, analysts expect that the firm will report sales of $18.01 billion per share, with estimates ranging from $17.53 billion to $18.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 net margin of 29.60% and a return on equity of 9.52%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year.

Several research firms have recently issued reports on PNC. Morgan Stanley upped 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 report on Friday, February 2nd. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services Group in a research report on Thursday, January 25th. Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services Group in a research report on Tuesday, January 16th. Argus upped their target price on 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 upped their target price on 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 assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $145.98.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $140.98, for a total value of $704,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider E William Parsley III sold 46,307 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $143.43, for a total value of $6,641,813.01. Following the completion of the sale, the insider now owns 132,544 shares in the company, valued at approximately $19,010,785.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,894 shares of company stock worth $14,897,513. Insiders own 0.43% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PNC. Tower Research Capital LLC TRC boosted its position in PNC Financial Services Group by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 91 shares in the last quarter. Atlantic Trust LLC purchased a new stake in PNC Financial Services Group in the 2nd quarter worth approximately $129,000. Crewe Advisors LLC purchased a new stake in PNC Financial Services Group in the 4th quarter worth approximately $134,000. Legacy Advisors LLC purchased a new stake in PNC Financial Services Group in the 3rd quarter worth approximately $136,000. Finally, Quadrant Capital Group LLC boosted its position in PNC Financial Services Group by 0.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 4 shares in the last quarter. Institutional investors and hedge funds own 82.24% of the company’s stock.

PNC Financial Services Group (NYSE PNC) traded up $2.33 on Wednesday, hitting $151.71. 2,693,350 shares of the stock traded hands, compared to its average volume of 2,440,000. PNC Financial Services Group has a 12-month low of $115.25 and a 12-month high of $160.07. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $73,310.00, a P/E ratio of 14.55, a P/E/G ratio of 1.40 and a beta of 0.93.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $3.00 annualized dividend and a yield of 1.98%. PNC Financial Services Group’s dividend payout ratio is presently 28.76%.

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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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