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.
週三早盤，PNC金融服務集團股票報價上漲，該公司公佈了強勁的第二季度業績。
The results came amid an exciting earnings season. Here are some key analyst takeaways.
這些結果出現在一個激動人心的盈利季節。以下是一些重要的分析師觀點。
- 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資本市場分析師Gerard Cassidy重申買入評級，並將目標股價從155美元提高至184美元。
- 高盛分析師Richard Ramsden維持中性評級，並將目標股價從165美元提高至182美元。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
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資本市場：Cassidy在一份研究報告中表示，除去一次性項目，PNC金融服務集團的核心收益爲每股3.30美元，超過預期的每股3.07美元。他補充說：“相對於我們的預期，第二季度的業績主要反映了超預期的淨利差收入，較強的非利息收入和低於預期的授信損失準備金，部分抵消了較高的開支。”
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.
該分析師將2024年和2025年的收益估計從每股12.70美元上調至每股12.88美元和從每股14.35美元上調至每股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，管理層預計2024年淨利差收入下降4％，反映了聯邦儲備委員會的兩次降息以及“貸款增長趨勢疲軟，但在低利率環境下可能轉彎上升”。他補充說：“此外，他們已經購買了180億美元的即期掉期，鎖定了比到期日高出約300個點子的收益率，即使長期利率下降，也有助於固定利率資產的再定價。”
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."
該分析師表示，核心支出的指導方針已從持平調整爲2024年下降1％。他表示：“管理層指出，商業房地產辦公室組合中的壞賬與他們的預期相符，並且除商業房地產外，信用質量穩定。”
PNC Price Action: Shares of PNC Financial Services Group had risen by 1.54% to $179.70 at the time of publication on Wednesday.
週三發表時，PNC金融服務集團的股價已上漲1.54％，報179.70美元。
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