PNC Financial Services Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component PNC Financial Services (NYSE:PNC) will unveil its latest earnings on Wednesday, January 18, 2012. 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 net income of $1.41 per share, a decline of 11.9% 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 $1.42. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.41 during the last month. For the year, analysts are projecting profit of $6.20 per share, a rise of 2.1% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 6 cents, reporting net income of $1.55 per share against a mean estimate of profit of $1.49 per share.

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Wall St. Revenue Expectations: On average, analysts predict $3.54 billion in revenue this quarter, a decline of 9.2% from the year ago quarter. Analysts are forecasting total revenue of $14.34 billion for the year, a decline of 5.5% from last year’s revenue of $15.18 billion.

Analyst Ratings: Analysts are bullish on this stock with 20 analysts rating it as a buy, none rating it as a sell and five rating it as a hold.

A Look Back: In the third quarter, profit fell 24.6% to $830 million ($1.55 a share) from $1.1 billion ($2.07 a share) the year earlier, but exceeded analyst expectations. Revenue fell 5.3% to $3.93 billion from $4.16 billion.

Key Stats:.

Revenue has fallen in the past four quarters. Revenue declined 9.1% in the second quarter from the year earlier, dropped 7.6% in first quarter from the year-ago quarter and 12.2% in the fourth quarter of the last fiscal year.

The decrease in profit in the third quarter broke a streak of two consecutive quarters of year-over-year profit increases. Net income rose 12.2% in the second quarter and 23.8% in the first quarter.

Competitors to Watch: Wells Fargo & Company (NYSE:WFC), Bank of America Corp. (NYSE:BAC), SunTrust Banks, Inc. (NYSE:STI), JPMorgan Chase & Co. (NYSE:JPM), KeyCorp (NYSE:KEY), Citigroup Inc. (NYSE:C), Regions Financial Corp. (NYSE:RF), BB&T Corporation (NYSE:BBT), First Horizon National Corp. (NYSE:FHN), and University Bancorp, Inc. (UNIB).

Stock Price Performance: During October 17, 2011 to January 12, 2012, the stock price had risen $13.36 (27.4%) from $48.73 to $62.09. The stock price saw one of its best stretches over the last year between December 30, 2011 and January 12, 2012 when shares rose for nine-straight days, rising 8.3% (+$4.75) over that span. It saw one of its worst periods between July 7, 2011 and July 20, 2011 when shares fell for 10-straight days, falling 7.7% (-$4.57) over that span.

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

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