Citigroup (C) closed the most recent trading day at $46.24, moving -0.17% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the U.S. bank had 0% in the past month. In that same time, the Finance sector gained 2.29%, while the S&P 500 gained 4.14%.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be July 14, 2023. The company is expected to report EPS of $1.59, down 30.87% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $19.94 billion, up 1.54% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.06 per share and revenue of $79.47 billion. These totals would mark changes of -14.77% and +5.49%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Citigroup. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.27% lower. Citigroup is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Citigroup currently has a Forward P/E ratio of 7.64. This represents a no noticeable deviation compared to its industry's average Forward P/E of 7.64.
It is also worth noting that C currently has a PEG ratio of 1.49. 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 1.16 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow C in the coming trading sessions, be sure to utilize Zacks.com.
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