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Citigroup (C) Gains But Lags Market: What You Should Know
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Citigroup (C - Free Report) closed the most recent trading day at $47.31, moving +1.2% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the U.S. bank had gained 4.61% in the past month. In that same time, the Finance sector lost 1.02%, while the S&P 500 lost 4.61%.
Citigroup will be looking to display strength as it nears its next earnings release, which is expected to be January 13, 2023. On that day, Citigroup is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 17.12%. Meanwhile, our latest consensus estimate is calling for revenue of $17.85 billion, up 4.92% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.23% lower. Citigroup is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Citigroup is currently trading at a Forward P/E ratio of 7.56. Its industry sports an average Forward P/E of 8.74, so we one might conclude that Citigroup is trading at a discount comparatively.
Meanwhile, C's PEG ratio is currently 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.28 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.
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Citigroup (C) Gains But Lags Market: What You Should Know
Citigroup (C - Free Report) closed the most recent trading day at $47.31, moving +1.2% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the U.S. bank had gained 4.61% in the past month. In that same time, the Finance sector lost 1.02%, while the S&P 500 lost 4.61%.
Citigroup will be looking to display strength as it nears its next earnings release, which is expected to be January 13, 2023. On that day, Citigroup is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 17.12%. Meanwhile, our latest consensus estimate is calling for revenue of $17.85 billion, up 4.92% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.23% lower. Citigroup is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Citigroup is currently trading at a Forward P/E ratio of 7.56. Its industry sports an average Forward P/E of 8.74, so we one might conclude that Citigroup is trading at a discount comparatively.
Meanwhile, C's PEG ratio is currently 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.28 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.