We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Citi (C) Beats on Q4 Earnings Estimates, Revenues Down
Read MoreHide Full Article
Have you been eager to see how Citigroup Inc. (C - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major bank’s earnings release this morning:
An Earnings Beat
Citigroup came out with earnings from continuing operations per share of $1.14, beating the Zacks Consensus Estimate of $1.12. Results were primarily aided by lower expenses, partially offset by reduced revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Citigroup depicted optimism prior to the earnings release. The Zacks Consensus Estimate increased 1% to $1.12 over the last 7days.
Also, Citigroup has a decent earnings surprise history. Before posting earnings beat in Q4, the company also delivered positive surprises in the past several quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 7.8% in the trailing four quarters.
Revenue Came in Lower Than Expected
Citigroup’s adjusted revenues of $17.01 billion missed the Zacks Consensus Estimate of $17.05 billion. Also, revenues declined 9% year over year.
Key Takeaways
Adjusted Net Income stood at $3.57 billion, up 4% from the prior year quarter.
Operating expenses declined 9% year over year to $10.1 billion.
Revenues from fixed income markets and equity markets increased 36% and 15% on a year over year basis, respectively. However, investment banking revenues remained largely flat year over year.
Net interest margin fell 13 basis points from the prior year quarter to 2.79%.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Citigroup. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Citigroup earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Citi (C) Beats on Q4 Earnings Estimates, Revenues Down
Have you been eager to see how Citigroup Inc. (C - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major bank’s earnings release this morning:
An Earnings Beat
Citigroup came out with earnings from continuing operations per share of $1.14, beating the Zacks Consensus Estimate of $1.12. Results were primarily aided by lower expenses, partially offset by reduced revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Citigroup depicted optimism prior to the earnings release. The Zacks Consensus Estimate increased 1% to $1.12 over the last 7days.
Also, Citigroup has a decent earnings surprise history. Before posting earnings beat in Q4, the company also delivered positive surprises in the past several quarters.
Citigroup Inc. Price and EPS Surprise
Citigroup Inc. Price and EPS Surprise | Citigroup Inc. Quote
Overall, the company surpassed the Zacks Consensus Estimate by an average of 7.8% in the trailing four quarters.
Revenue Came in Lower Than Expected
Citigroup’s adjusted revenues of $17.01 billion missed the Zacks Consensus Estimate of $17.05 billion. Also, revenues declined 9% year over year.
Key Takeaways
Adjusted Net Income stood at $3.57 billion, up 4% from the prior year quarter.
Operating expenses declined 9% year over year to $10.1 billion.
Revenues from fixed income markets and equity markets increased 36% and 15% on a year over year basis, respectively. However, investment banking revenues remained largely flat year over year.
Net interest margin fell 13 basis points from the prior year quarter to 2.79%.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Citigroup. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Citigroup earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>