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Citigroup (C) Dips More Than Broader Markets: What You Should Know
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Citigroup (C - Free Report) closed the most recent trading day at $45.77, moving -0.69% from the previous trading session. This move lagged the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the U.S. bank had lost 9.77% over the past month. This has lagged the Finance sector's loss of 7.07% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be April 14, 2023. On that day, Citigroup is projected to report earnings of $1.70 per share, which would represent a year-over-year decline of 15.84%. Meanwhile, our latest consensus estimate is calling for revenue of $19.91 billion, up 3.77% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.85 per share and revenue of $78.14 billion, which would represent changes of -17.72% and +3.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Citigroup should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.6% lower. Citigroup is currently a Zacks Rank #3 (Hold).
Investors should also note Citigroup's current valuation metrics, including its Forward P/E ratio of 7.88. For comparison, its industry has an average Forward P/E of 7.81, which means Citigroup is trading at a premium to the group.
Investors should also note that C has a PEG ratio of 1.58 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. C's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Citigroup (C) Dips More Than Broader Markets: What You Should Know
Citigroup (C - Free Report) closed the most recent trading day at $45.77, moving -0.69% from the previous trading session. This move lagged the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the U.S. bank had lost 9.77% over the past month. This has lagged the Finance sector's loss of 7.07% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be April 14, 2023. On that day, Citigroup is projected to report earnings of $1.70 per share, which would represent a year-over-year decline of 15.84%. Meanwhile, our latest consensus estimate is calling for revenue of $19.91 billion, up 3.77% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.85 per share and revenue of $78.14 billion, which would represent changes of -17.72% and +3.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Citigroup should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.6% lower. Citigroup is currently a Zacks Rank #3 (Hold).
Investors should also note Citigroup's current valuation metrics, including its Forward P/E ratio of 7.88. For comparison, its industry has an average Forward P/E of 7.81, which means Citigroup is trading at a premium to the group.
Investors should also note that C has a PEG ratio of 1.58 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. C's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.