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Citigroup (C) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Citigroup (C - Free Report) closed at $61.69, marking a -1.83% move from the previous day. This move lagged the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.
Shares of the U.S. bank witnessed a gain of 11.7% over the previous month, beating the performance of the Finance sector with its gain of 2.37% and the S&P 500's gain of 1.5%.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on April 12, 2024. The company is expected to report EPS of $1.43, down 23.12% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $20.29 billion, indicating a 5.39% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.83 per share and revenue of $80.07 billion. These totals would mark changes of -3.48% and +2.05%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Citigroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.9% downward. Citigroup is currently a Zacks Rank #3 (Hold).
Investors should also note Citigroup's current valuation metrics, including its Forward P/E ratio of 10.79. This denotes a discount relative to the industry's average Forward P/E of 11.19.
Meanwhile, C's PEG ratio is currently 1.75. 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 industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.
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Citigroup (C) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Citigroup (C - Free Report) closed at $61.69, marking a -1.83% move from the previous day. This move lagged the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.
Shares of the U.S. bank witnessed a gain of 11.7% over the previous month, beating the performance of the Finance sector with its gain of 2.37% and the S&P 500's gain of 1.5%.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on April 12, 2024. The company is expected to report EPS of $1.43, down 23.12% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $20.29 billion, indicating a 5.39% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.83 per share and revenue of $80.07 billion. These totals would mark changes of -3.48% and +2.05%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Citigroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.9% downward. Citigroup is currently a Zacks Rank #3 (Hold).
Investors should also note Citigroup's current valuation metrics, including its Forward P/E ratio of 10.79. This denotes a discount relative to the industry's average Forward P/E of 11.19.
Meanwhile, C's PEG ratio is currently 1.75. 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 industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.