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.
Citizens Financial Group (CFG) Reports Q2 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
Citizens Financial Group (CFG - Free Report) reported $2.09 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.8%. EPS of $0.92 for the same period compares to $1.14 a year ago.
The reported revenue represents a surprise of +0.17% over the Zacks Consensus Estimate of $2.09 billion. With the consensus EPS estimate being $1.00, the EPS surprise was -8.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Citizens Financial Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 62.34% versus the six-analyst average estimate of 59.34%.
Average Balances - Interest-earning assets: $201.50 billion versus the six-analyst average estimate of $202.20 billion.
Net Interest Margin: 3.16% compared to the 3.12% average estimate based on six analysts.
Book value per common share: $45.44 compared to the $46.57 average estimate based on five analysts.
Tangible book value per common share: $28.72 versus the five-analyst average estimate of $30.09.
Return on average total assets: 0.86% compared to the 0.9% average estimate based on four analysts.
Return on average common equity: 8% versus 8.55% estimated by four analysts on average.
Net charge-offs as a % of average loans and leases: 0.4% versus the four-analyst average estimate of 0.41%.
Total net charge-offs (recoveries): $152 million versus the four-analyst average estimate of $154.76 million.
Common Equity Tier 1 Capital Ratio (CET1 Capital Ratio): 10.3% compared to the 9.64% average estimate based on four analysts.
Tier 1 Capital Ratio: 11.4% compared to the 11.16% average estimate based on three analysts.
Total Capital Ratio: 13.3% versus 12.96% estimated by three analysts on average.
Shares of Citizens Financial Group have returned +7% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Citizens Financial Group (CFG) Reports Q2 Earnings: What Key Metrics Have to Say
Citizens Financial Group (CFG - Free Report) reported $2.09 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.8%. EPS of $0.92 for the same period compares to $1.14 a year ago.
The reported revenue represents a surprise of +0.17% over the Zacks Consensus Estimate of $2.09 billion. With the consensus EPS estimate being $1.00, the EPS surprise was -8.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Citizens Financial Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 62.34% versus the six-analyst average estimate of 59.34%.
- Average Balances - Interest-earning assets: $201.50 billion versus the six-analyst average estimate of $202.20 billion.
- Net Interest Margin: 3.16% compared to the 3.12% average estimate based on six analysts.
- Book value per common share: $45.44 compared to the $46.57 average estimate based on five analysts.
- Tangible book value per common share: $28.72 versus the five-analyst average estimate of $30.09.
- Return on average total assets: 0.86% compared to the 0.9% average estimate based on four analysts.
- Return on average common equity: 8% versus 8.55% estimated by four analysts on average.
- Net charge-offs as a % of average loans and leases: 0.4% versus the four-analyst average estimate of 0.41%.
- Total net charge-offs (recoveries): $152 million versus the four-analyst average estimate of $154.76 million.
- Common Equity Tier 1 Capital Ratio (CET1 Capital Ratio): 10.3% compared to the 9.64% average estimate based on four analysts.
- Tier 1 Capital Ratio: 11.4% compared to the 11.16% average estimate based on three analysts.
- Total Capital Ratio: 13.3% versus 12.96% estimated by three analysts on average.
View all Key Company Metrics for Citizens Financial Group here>>>Shares of Citizens Financial Group have returned +7% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.