Wall Street analysts forecast that The PNC Financial Services Group, Inc (PNC) will report quarterly earnings of $3.29 per share in its upcoming release, pointing to a year-over-year decline of 8.6%. It is anticipated that revenues will amount to $5.37 billion, exhibiting an increase of 2.5% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.3% to its current level. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company’s quarterly performance, scrutinizing analysts’ projections for some of the company’s key metrics can offer a more comprehensive perspective.
With that in mind, let’s delve into the average projections of some The PNC Financial Services Group metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast ‘Efficiency ratio’ to reach 62.4%. Compared to the present estimate, the company reported 62% in the same quarter last year.
Analysts predict that the ‘Total interest-earning assets – Average balance’ will reach $511.59 billion. The estimate compares to the year-ago value of $506.30 billion.
According to the collective judgment of analysts, ‘Total nonperforming assets’ should come in at $2.56 billion. Compared to the current estimate, the company reported $2.16 billion in the same quarter of the previous year.
The consensus among analysts is that ‘Total nonperforming loans’ will reach $2.43 billion. The estimate is in contrast to the year-ago figure of $2.12 billion.
The collective assessment of analysts points to an estimated ‘Tier 1 risk-based ratio’ of 11.6%. The estimate is in contrast to the year-ago figure of 11.5%.
Analysts’ assessment points toward ‘Leverage Ratio’ reaching 8.9%. The estimate compares to the year-ago value of 8.9%.
Analysts expect ‘Total capital risk-based’ to come in at 13.5%. Compared to the present estimate, the company reported 13.3% in the same quarter last year.
Based on the collective assessment of analysts, ‘Net interest income – FTE’ should arrive at $3.40 billion. Compared to the current estimate, the company reported $3.45 billion in the same quarter of the previous year.
It is projected by analysts that the ‘Total Noninterest Income’ will reach $2.00 billion. Compared to the present estimate, the company reported $1.82 billion in the same quarter last year.
The combined assessment of analysts suggests that ‘Asset management and brokerage’ will likely reach $370.96 million. Compared to the present estimate, the company reported $348 million in the same quarter last year.
The average prediction of analysts places ‘Lending and deposit services’ at $313.06 million. The estimate compares to the year-ago value of $315 million.
The consensus estimate for ‘Net Interest Income’ stands at $3.36 billion. Compared to the present estimate, the company reported $3.42 billion in the same quarter last year.
View all Key Company Metrics for The PNC Financial Services Group here>>>
The PNC Financial Services Group shares have witnessed a change of +3.5% in the past month, in contrast to the Zacks S&P 500 composite’s +5.9% move. With a Zacks Rank #3 (Hold), PNC is expected closely follow the overall market performance in the near term. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
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