Yahoo Finance Citigroup (C) Beats Stock Market Upswing: What Investors Need to Know
Citigroup (C) closed at $61.58 in the latest trading session, marking a +0.39% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.09% for the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq gained 0.16%.
Shares of the U.S. bank witnessed a loss of 3.52% over the previous month, trailing the performance of the Finance sector with its gain of 0.26% and the S&P 500's gain of 2.83%.
The upcoming earnings release of Citigroup will be of great interest to investors. The company's earnings report is expected on July 12, 2024. It is anticipated that the company will report an EPS of $1.40, marking a 2.19% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $19.99 billion, indicating a 2.85% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.88 per share and a revenue of $80.68 billion, representing changes of -2.65% and +2.83%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Citigroup. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.9% decrease. Citigroup presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Citigroup currently has a Forward P/E ratio of 10.43. This indicates a discount in contrast to its industry's Forward P/E of 11.14.
One should further note that C currently holds a PEG ratio of 0.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. C's industry had an average PEG ratio of 1.52 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 56, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Citigroup Inc. (C) : Free Stock Analysis Report
