PNC Financial Services Beats Q2 Expectations, Analysts Raises Earnings Estimates For 2024 And 2025
PNC Financial Services Beats Q2 Expectations, Analysts Raises Earnings Estimates For 2024 And 2025
Shares of PNC Financial Services Group Inc (NYSE:PNC) were climbing in early trading on Wednesday, after the company reported strong second-quarter results.
周三早盘，PNC金融服务集团股票报价上涨，该公司公布了强劲的第二季度业绩。
The results came amid an exciting earnings season. Here are some key analyst takeaways.
这些结果出现在一个激动人心的盈利季节。以下是一些重要的分析师观点。
- RBC Capital Markets analyst Gerard Cassidy reiterated an Outperform rating and lifted the price target from $155 to $184.
- Goldman Sachs analyst Richard Ramsden maintained a Neutral rating and raised the price target from $165 to $182.
- RBC资本市场分析师Gerard Cassidy重申买入评级，并将目标股价从155美元提高至184美元。
- 高盛分析师Richard Ramsden维持中性评级，并将目标股价从165美元提高至182美元。
Check out other analyst stock ratings.
查看其他分析师的股票评级。
RBC Capital Markets: Excluding one-time items, PNC Financial Services' core earnings came in at $3.30 per share, surpassing estimates of $3.07 per share, Cassidy said in a note. "Relative to our estimates, 2Q24 results primarily reflected better-than-expected net interest income, stronger noninterest income and a lower-than-expected provision for credit losses, partially offset by higher expenses," he added.
RBC资本市场：Cassidy在一份研究报告中表示，除去一次性项目，PNC金融服务集团的核心收益为每股3.30美元，超过预期的每股3.07美元。他补充说：“相对于我们的预期，第二季度的业绩主要反映了超预期的净利差收入，较强的非利息收入和低于预期的授信损失准备金，部分抵消了较高的开支。”
The analyst raised the earnings estimates for 2024 and 2025 from $12.70 per share to $12.88 per share and from $14.35 per share to $14.50 per share, respectively.
该分析师将2024年和2025年的收益估计从每股12.70美元上调至每股12.88美元和从每股14.35美元上调至每股14.50美元。
Goldman Sachs: Management guided to a 4% decline in 2024 net interest income, which reflect two interest rate cuts by the Federal Reserve as well as "weaker loan growth which may inflect upwards in lower rate environment," Ramsden said. "In addition, they have bought $18bn forward starting swaps locking in ~300bps higher yields vs maturities which helps fixed rate asset repricing even if long rates fall," he added.
高盛：Ramsden表示，管理层预计2024年净利差收入下降4％，反映了联邦储备委员会的两次降息以及“贷款增长趋势疲软，但在低利率环境下可能转弯上升”。他补充说：“此外，他们已经购买了180亿美元的即期掉期，锁定了比到期日高出约300个基点的收益率，即使长期利率下降，也有助于固定利率资产的再定价。”
The guidance for core expenses was revised from flat to a 1% decline in 2024, the analyst stated. "Management noted that the increase in charge-offs in the CRE office portfolio are in line with their expectations, and they continue to be adequately reserved, with credit quality stable outside of CRE."
该分析师表示，核心支出的指导方针已从持平调整为2024年下降1％。他表示：“管理层指出，商业房地产办公室组合中的坏账与他们的预期相符，并且除商业房地产外，信用质量稳定。”
PNC Price Action: Shares of PNC Financial Services Group had risen by 1.54% to $179.70 at the time of publication on Wednesday.
周三发表时，PNC金融服务集团的股价已上涨1.54％，报179.70美元。
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