Why PNC Financial (PNC) Might Surprise This Earnings Season

0
48

Investors are always looking for stocks that are poised to beat at earnings season and The PNC Financial Services Group, Inc. PNC may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because PNC Financial is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for PNC in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at $2.86 per share for PNC, compared to a broader Zacks Consensus Estimate of $2.83 per share. This suggests that analysts have very recently bumped up their estimates for PNC, giving the stock a Zacks Earnings ESP of +0.88% heading into earnings season.

The PNC Financial Services Group, Inc Price and EPS Surprise

The PNC Financial Services Group, Inc Price and EPS Surprise

The PNC Financial Services Group, Inc price-eps-surprise | The PNC Financial Services Group, Inc Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that PNC has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for PNC Financial, and that a beat might be in the cards for the upcoming report.

Radical New Technology Creates $12.3 Trillion Opportunity

Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.

Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” – and early investors stand to earn the biggest profits.

See the 7 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Read more from source here…