Brokerages expect PNC Financial Services Group Inc (NYSE:PNC) to report sales of $4.41 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for PNC Financial Services Group’s earnings, with estimates ranging from $4.38 billion to $4.45 billion. PNC Financial Services Group posted sales of $4.36 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The firm is scheduled to issue its next quarterly earnings report on Friday, October 11th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $17.58 billion for the current year, with estimates ranging from $17.49 billion to $17.67 billion. For the next year, analysts expect that the business will report sales of $17.88 billion, with estimates ranging from $17.66 billion to $18.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year.

Several analysts have weighed in on the stock. Robert W. Baird set a $141.00 target price on shares of PNC Financial Services Group and gave the company a “buy” rating in a research note on Monday, August 26th. Morgan Stanley set a $141.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $143.22.

PNC stock traded up $2.11 during trading on Tuesday, hitting $139.28. 166,678 shares of the company’s stock traded hands, compared to its average volume of 1,764,638. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. PNC Financial Services Group has a 52 week low of $108.45 and a 52 week high of $145.30. The stock has a fifty day moving average price of $131.98 and a two-hundred day moving average price of $131.93. The stock has a market capitalization of $61.40 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11.

In other news, CEO William S. Demchak sold 17,132 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $135.11, for a total transaction of $2,314,704.52. Following the completion of the transaction, the chief executive officer now owns 507,979 shares in the company, valued at $68,633,042.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory H. Kozich sold 10,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $139.82, for a total transaction of $1,398,200.00. Following the transaction, the insider now owns 20,080 shares of the company’s stock, valued at approximately $2,807,585.60. The disclosure for this sale can be found here. Insiders have sold 158,374 shares of company stock valued at $22,168,172 in the last 90 days. Insiders own 0.37% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PNC. Nuveen Asset Management LLC grew its position in PNC Financial Services Group by 39,296.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,683,480 shares of the financial services provider’s stock valued at $642,948,000 after buying an additional 4,671,592 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in PNC Financial Services Group by 13,808.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock valued at $188,593,000 after buying an additional 1,872,373 shares in the last quarter. Putnam Investments LLC grew its position in PNC Financial Services Group by 27,828.9% in the 2nd quarter. Putnam Investments LLC now owns 1,173,295 shares of the financial services provider’s stock valued at $161,070,000 after buying an additional 1,169,094 shares in the last quarter. FMR LLC grew its position in PNC Financial Services Group by 3.8% in the 1st quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after buying an additional 407,250 shares in the last quarter. Finally, Hexavest Inc. bought a new position in PNC Financial Services Group in the 2nd quarter valued at about $53,247,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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