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Citigroup (C) Gains But Lags Market: What You Should Know
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In the latest trading session, Citigroup (C - Free Report) closed at $48.45, marking a +0.31% move from the previous day. This change lagged the S&P 500's 0.93% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Heading into today, shares of the U.S. bank had gained 6.27% over the past month, outpacing the Finance sector's gain of 3.55% and the S&P 500's gain of 4.61% in that time.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be July 14, 2023. The company is expected to report EPS of $1.59, down 30.87% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $19.94 billion, up 1.54% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.06 per share and revenue of $79.45 billion. These totals would mark changes of -14.77% and +5.46%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.26% 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 7.97. For comparison, its industry has an average Forward P/E of 7.97, which means Citigroup is trading at a no noticeable deviation to the group.
Investors should also note that C has a PEG ratio of 1.8 right now. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.2 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Citigroup (C) Gains But Lags Market: What You Should Know
In the latest trading session, Citigroup (C - Free Report) closed at $48.45, marking a +0.31% move from the previous day. This change lagged the S&P 500's 0.93% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Heading into today, shares of the U.S. bank had gained 6.27% over the past month, outpacing the Finance sector's gain of 3.55% and the S&P 500's gain of 4.61% in that time.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be July 14, 2023. The company is expected to report EPS of $1.59, down 30.87% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $19.94 billion, up 1.54% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.06 per share and revenue of $79.45 billion. These totals would mark changes of -14.77% and +5.46%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.26% 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 7.97. For comparison, its industry has an average Forward P/E of 7.97, which means Citigroup is trading at a no noticeable deviation to the group.
Investors should also note that C has a PEG ratio of 1.8 right now. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.2 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.