PNC Financial Services Group (NYSE:PNC) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS
PNC Financial Services Group (NYSE:PNC) posted its quarterly earnings results on Wednesday. The financial services provider reported $2.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.05, RTT News reports. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.72 earnings per share.
PNC stock opened at $139.68 on Thursday. The company has a 50 day moving average price of $135.77. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.88 and a quick ratio of 0.88. PNC Financial Services Group has a 12 month low of $108.45 and a 12 month high of $147.23. The company has a market capitalization of $62.64 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.80 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 19th will be given a $1.15 dividend. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, July 18th. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.48%.
PNC has been the subject of a number of research reports. Barclays increased their target price on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. Morgan Stanley set a $36.00 target price on shares of ArcBest and gave the stock a “hold” rating in a research report on Monday, July 8th. UBS Group set a $169.00 target price on shares of M&T Bank and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 target price for the company. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $142.99.
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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