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Citigroup (C) Stock Dips While Market Gains: Key Facts
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Citigroup (C - Free Report) closed at $61.43 in the latest trading session, marking a -0.57% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.26%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.35%.
Shares of the U.S. bank have depreciated by 2.75% over the course of the past month, underperforming the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.
The upcoming earnings release of Citigroup will be of great interest to investors. The company's earnings report is expected on July 12, 2024. The company is forecasted to report an EPS of $1.43, showcasing a 4.38% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $20.04 billion, up 3.11% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.96 per share and a revenue of $80.84 billion, indicating changes of -1.32% and +3.03%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Citigroup. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% lower. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Citigroup currently has a Forward P/E ratio of 10.37. This indicates a discount in contrast to its industry's Forward P/E of 11.05.
Also, we should mention that C has a PEG ratio of 0.93. 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. C's industry had an average PEG ratio of 1.75 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Citigroup (C) Stock Dips While Market Gains: Key Facts
Citigroup (C - Free Report) closed at $61.43 in the latest trading session, marking a -0.57% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.26%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.35%.
Shares of the U.S. bank have depreciated by 2.75% over the course of the past month, underperforming the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.
The upcoming earnings release of Citigroup will be of great interest to investors. The company's earnings report is expected on July 12, 2024. The company is forecasted to report an EPS of $1.43, showcasing a 4.38% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $20.04 billion, up 3.11% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.96 per share and a revenue of $80.84 billion, indicating changes of -1.32% and +3.03%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Citigroup. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% lower. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Citigroup currently has a Forward P/E ratio of 10.37. This indicates a discount in contrast to its industry's Forward P/E of 11.05.
Also, we should mention that C has a PEG ratio of 0.93. 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. C's industry had an average PEG ratio of 1.75 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.