Is it time to Buy before this week’s earning report PNC Financial Services Group (NYSE:PNC)

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Earnings results for PNC Financial Services Group (NYSE:PNC)

PNC Financial Services Group, Inc. (The) is expected* to report earnings on 10/14/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.09. The reported EPS for the same quarter last year was $2.94.

PNC Financial Services Group last posted its earnings results on July 15th, 2020. The financial services provider reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by $2.78. The company earned $4.08 billion during the quarter, compared to analyst estimates of $4.08 billion. Its quarterly revenue was down 3.3% compared to the same quarter last year. PNC Financial Services Group has generated $11.39 earnings per share over the last year and currently has a price-to-earnings ratio of 6.9. PNC Financial Services Group has confirmed that its next quarterly earnings report will be published on Wednesday, October 14th, 2020. PNC Financial Services Group will be holding an earnings conference call on Thursday, October 15th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on PNC Financial Services Group (NYSE:PNC)

17 Wall Street analysts have issued ratings and price targets for PNC Financial Services Group in the last 12 months. Their average twelve-month price target is $120.92, predicting that the stock has a possible upside of 7.48%. The high price target for PNC is $181.00 and the low price target for PNC is $88.00. There are currently 2 sell ratings, 8 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Hold.”

PNC Financial Services Group has received a consensus rating of Hold. The company’s average rating score is 2.29, and is based on 7 buy ratings, 8 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $120.92, PNC Financial Services Group has a forecasted upside of 7.5% from its current price of $112.51. PNC Financial Services Group has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: PNC Financial Services Group (NYSE:PNC)

PNC Financial Services Group pays a meaningful dividend of 3.96%, higher than the bottom 25% of all stocks that pay dividends. PNC Financial Services Group has been increasing its dividend for 9 years. The dividend payout ratio of PNC Financial Services Group is 40.39%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PNC Financial Services Group will have a dividend payout ratio of 67.45% next year. This indicates that PNC Financial Services Group will be able to sustain or increase its dividend.

Insiders buying/selling: PNC Financial Services Group (NYSE:PNC)

In the past three months, PNC Financial Services Group insiders have not sold or bought any company stock. Only 0.30% of the stock of PNC Financial Services Group is held by insiders. 79.48% of the stock of PNC Financial Services Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of PNC Financial Services Group (NYSE:PNC

Earnings for PNC Financial Services Group are expected to grow by 102.98% in the coming year, from $3.36 to $6.82 per share. The P/E ratio of PNC Financial Services Group is 6.92, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.81. The P/E ratio of PNC Financial Services Group is 6.92, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.66. PNC Financial Services Group has a PEG Ratio of 4.71. PEG Ratios above 1 indicate that a company could be overvalued. PNC Financial Services Group has a P/B Ratio of 1.02. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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