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.
Citigroup (C) Stock Moves -0.42%: What You Should Know
Read MoreHide Full Article
Citigroup (C - Free Report) closed the most recent trading day at $47.41, moving -0.42% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.53%.
Heading into today, shares of the U.S. bank had gained 3.7% over the past month, outpacing the Finance sector's gain of 3.38% and lagging the S&P 500's gain of 4.86% in that time.
Citigroup will be looking to display strength as it nears its next earnings release, which is expected to be July 14, 2023. On that day, Citigroup is projected to report earnings of $1.55 per share, which would represent a year-over-year decline of 32.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.82 billion, up 0.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.06 per share and revenue of $79.42 billion, which would represent changes of -14.77% and +5.42%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Citigroup. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.87% lower within the past month. Citigroup is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Citigroup has a Forward P/E ratio of 7.86 right now. Its industry sports an average Forward P/E of 8.1, so we one might conclude that Citigroup is trading at a discount comparatively.
It is also worth noting that C currently has a PEG ratio of 1.77. 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. The Banks - Major Regional was holding an average PEG ratio of 1.21 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Citigroup (C) Stock Moves -0.42%: What You Should Know
Citigroup (C - Free Report) closed the most recent trading day at $47.41, moving -0.42% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.53%.
Heading into today, shares of the U.S. bank had gained 3.7% over the past month, outpacing the Finance sector's gain of 3.38% and lagging the S&P 500's gain of 4.86% in that time.
Citigroup will be looking to display strength as it nears its next earnings release, which is expected to be July 14, 2023. On that day, Citigroup is projected to report earnings of $1.55 per share, which would represent a year-over-year decline of 32.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.82 billion, up 0.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.06 per share and revenue of $79.42 billion, which would represent changes of -14.77% and +5.42%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Citigroup. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.87% lower within the past month. Citigroup is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Citigroup has a Forward P/E ratio of 7.86 right now. Its industry sports an average Forward P/E of 8.1, so we one might conclude that Citigroup is trading at a discount comparatively.
It is also worth noting that C currently has a PEG ratio of 1.77. 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. The Banks - Major Regional was holding an average PEG ratio of 1.21 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% 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.