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Citigroup (C) Dips More Than Broader Markets: What You Should Know
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Citigroup (C - Free Report) closed at $39.86 in the latest trading session, marking a -1.58% move from the prior day. This change lagged the S&P 500's daily loss of 1.37%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Coming into today, shares of the U.S. bank had lost 2.62% in the past month. In that same time, the Finance sector lost 4.93%, while the S&P 500 lost 4.93%.
Wall Street will be looking for positivity from Citigroup as it approaches its next earnings report date. This is expected to be October 13, 2023. In that report, analysts expect Citigroup to post earnings of $1.28 per share. This would mark a year-over-year decline of 14.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.34 billion, up 4.48% from the year-ago period.
C's full-year Zacks Consensus Estimates are calling for earnings of $6 per share and revenue of $79.19 billion. These results would represent year-over-year changes of -15.61% and +5.11%, respectively.
Investors might also notice recent changes to analyst estimates for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.5% lower. Citigroup is currently a Zacks Rank #4 (Sell).
Investors should also note Citigroup's current valuation metrics, including its Forward P/E ratio of 6.75. Its industry sports an average Forward P/E of 7.85, so we one might conclude that Citigroup is trading at a discount comparatively.
We can also see that C currently has a PEG ratio of 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.21 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 182, 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 at $39.86 in the latest trading session, marking a -1.58% move from the prior day. This change lagged the S&P 500's daily loss of 1.37%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Coming into today, shares of the U.S. bank had lost 2.62% in the past month. In that same time, the Finance sector lost 4.93%, while the S&P 500 lost 4.93%.
Wall Street will be looking for positivity from Citigroup as it approaches its next earnings report date. This is expected to be October 13, 2023. In that report, analysts expect Citigroup to post earnings of $1.28 per share. This would mark a year-over-year decline of 14.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.34 billion, up 4.48% from the year-ago period.
C's full-year Zacks Consensus Estimates are calling for earnings of $6 per share and revenue of $79.19 billion. These results would represent year-over-year changes of -15.61% and +5.11%, respectively.
Investors might also notice recent changes to analyst estimates for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.5% lower. Citigroup is currently a Zacks Rank #4 (Sell).
Investors should also note Citigroup's current valuation metrics, including its Forward P/E ratio of 6.75. Its industry sports an average Forward P/E of 7.85, so we one might conclude that Citigroup is trading at a discount comparatively.
We can also see that C currently has a PEG ratio of 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.21 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 182, 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.