Earnings To Watch: PNC Financial Services Group (PNC) Reports Q2 Results Tomorrow

Financial services giant PNC (NYSE:PNC) will be announcing earnings results this Wednesday before market hours. Here’s what to look for.

Financial services giant PNC (NYSE:PNC) will be announcing earnings results this Wednesday before market hours. Here's what to look for. PNC Financial Services Group missed analysts' revenue expectations last quarter, reporting revenues of $6.19 billion, up 12.2% year on year.

It was a slower quarter for the company, with a narrow beat of analysts' EPS estimates and net interest income in line with analysts' estimates. Is PNC Financial Services Group a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members.

This quarter, the market is expecting PNC Financial Services Group's revenue to grow 13.2% year on year, improving from the 7.2% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. PNC Financial Services Group rarely misses Wall Street's revenue estimates.

Looking at PNC Financial Services Group's peers in the banks segment, only FB Financial has reported results so far. It missed analysts' revenue estimates, delivering year-on-year sales growth of 27.5%. Read our full analysis of FB Financial's earnings results here.

There has been positive sentiment among investors in the banks segment, with share prices up 4.2% on average over the last month. PNC Financial Services Group is up 9.7% during the same time and is heading into earnings with an average analyst price target of $267.38 (compared to the current share price of $252.85). ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal.

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