The PNC Financial Services Group (NYSE: PNC) has reported E.P.S. of $3.39 for its second fiscal quarter (ending June 30) versus $3.36 for the same period a year ago — an increase of 1%. This result exceeded the consensus estimate of $2.96 by $0.43. For the latest four quarters through June 30, E.P.S. were $11.94 versus $14.60 for the same period a year ago — a decline of -18%.
Recent Price Action
The PNC Financial Services Group (NYSE: PNC) stock closed at $176.98 on 7/16/24 after a large increase of 4.7%. Moreover, this advance was accompanied by exceptionally high trading volume at 320% of normal. The stock has been strong relative to the market over the last nine months and has risen 11.5% during the last week.
Current PriceTarget Research Rating
PNC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
PNC Financial Services Group has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. PNC Financial Services Group has a good Power Rating of 81 and a very high Appreciation Score of 91, with the Highest Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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