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Citizens Financial Group (CFG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, Citizens Financial Group (CFG - Free Report) reported revenue of $1.96 billion, down 7.9% over the same period last year. EPS came in at $0.65, compared to $1.00 in the year-ago quarter.
The reported revenue represents a surprise of -0.40% over the Zacks Consensus Estimate of $1.97 billion. With the consensus EPS estimate being $0.75, the EPS surprise was -13.33%.
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: 69.3% compared to the 67.3% average estimate based on six analysts.
Net Interest Margin: 2.9% compared to the 2.9% average estimate based on six analysts.
Book value per common share: $47.43 compared to the $48.11 average estimate based on six analysts.
Return on average total assets: 0.6% versus 0.7% estimated by six analysts on average.
Return on average common equity: 5.6% versus 6.4% estimated by six analysts on average.
Average Balances - Total interest-earning assets: $200.07 billion versus $202.46 billion estimated by six analysts on average.
Net charge-offs: $181 million versus $182.44 million estimated by five analysts on average.
Tangible book value per common share: $30.19 versus $30.81 estimated by five analysts on average.
Net charge-offs as a % of average loans and leases: 0.5% versus the five-analyst average estimate of 0.5%.
Common Equity Tier 1 Capital Ratio (CET1 Capital Ratio): 10.6% compared to the 10.6% average estimate based on four analysts.
Tier 1 Capital Ratio: 11.8% compared to the 11.6% average estimate based on three analysts.
Total Capital Ratio: 13.8% versus the three-analyst average estimate of 13.5%.
Shares of Citizens Financial Group have returned -3.3% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Citizens Financial Group (CFG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, Citizens Financial Group (CFG - Free Report) reported revenue of $1.96 billion, down 7.9% over the same period last year. EPS came in at $0.65, compared to $1.00 in the year-ago quarter.
The reported revenue represents a surprise of -0.40% over the Zacks Consensus Estimate of $1.97 billion. With the consensus EPS estimate being $0.75, the EPS surprise was -13.33%.
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: 69.3% compared to the 67.3% average estimate based on six analysts.
- Net Interest Margin: 2.9% compared to the 2.9% average estimate based on six analysts.
- Book value per common share: $47.43 compared to the $48.11 average estimate based on six analysts.
- Return on average total assets: 0.6% versus 0.7% estimated by six analysts on average.
- Return on average common equity: 5.6% versus 6.4% estimated by six analysts on average.
- Average Balances - Total interest-earning assets: $200.07 billion versus $202.46 billion estimated by six analysts on average.
- Net charge-offs: $181 million versus $182.44 million estimated by five analysts on average.
- Tangible book value per common share: $30.19 versus $30.81 estimated by five analysts on average.
- Net charge-offs as a % of average loans and leases: 0.5% versus the five-analyst average estimate of 0.5%.
- Common Equity Tier 1 Capital Ratio (CET1 Capital Ratio): 10.6% compared to the 10.6% average estimate based on four analysts.
- Tier 1 Capital Ratio: 11.8% compared to the 11.6% average estimate based on three analysts.
- Total Capital Ratio: 13.8% versus the three-analyst average estimate of 13.5%.
View all Key Company Metrics for Citizens Financial Group here>>>Shares of Citizens Financial Group have returned -3.3% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.