PNC Financial Services Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component PNC Financial Services (NYSE:PNC) will unveil its latest earnings tomorrow, Thursday, January 17, 2013. PNC Financial Services Group offers corporate and institutional banking, retail banking, asset management, residential mortgage banking, and global investment services.

PNC Financial Services Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.40 per share, a rise of 0.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.67. Between one and three months ago, the average estimate moved down. It also has dropped from $1.58 during the last month. Analysts are projecting profit to rise by 11.2% compared to last year’s $5.49.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of $1.64 per share versus a mean estimate of profit of $1.61 per share.

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A Look Back: In the third quarter, profit rose 13.1% to $939 million ($1.64 a share) from $830 million ($1.55 a share) the year earlier, exceeding analyst expectations. Revenue rose 11.4% to $4.38 billion from $3.93 billion.

Here’s how PNC Financial traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:

PNC

Wall St. Revenue Expectations: Analysts predict a rise of 11% in revenue from the year-earlier quarter to $3.94 billion.

Analyst Ratings: With 19 analysts rating the stock a buy, none rating it a sell and six rating the stock a hold, there are indications of a bullish stance by analysts.

Key Stats:

Last quarter’s earnings rise was a switch from preceding drops, so the upcoming earnings announcement is a chance to build on last quarter’s result. Net income fell in the fourth quarter of the last fiscal year, the first quarter and the second quarter before snapping that run with a profit increase in the third quarter.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)