Citigroup (C) Beats Market Returns: Some Facts to Consider

During the last trading session, Citigroup (C) closed at $60.78, up +1.2% from the previous day. The stock topped the S&P 500’s 0.25% daily gain. Elsewhere, the Dow rose 0.15%, while the tech-heavy Nasdaq rose 0.03%. .

The U.S. banking sector’s stock has fallen 4.91% over the past month, trailing the Financial sector’s 2.3% loss and the S&P 500’s 3.34% gain.

Investors will be eagerly watching Citigroup’s performance when it next releases its earnings. The company’s earnings report is expected to be unveiled on July 12, 2024. The company is expected to report EPS of $1.43, up 4.38% from the year-ago quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.04 billion, up 3.12% from the year-ago quarter.

For the full year, Zacks Consensus Estimates are projecting earnings of $5.96 per share and revenue of $80.85 billion, which would represent changes of -1.32% and +3.04%, respectively, compared to the previous year.

Additionally, investors would benefit from monitoring any recent changes in analyst projections for Citigroup. These revisions generally reflect the latest short-term business trends, which may change frequently. Therefore, positive estimate revisions reflect analyst confidence in the company’s business performance and profit potential.

Our research shows that these estimate changes are directly correlated to near-term stock prices. Investors can take advantage of this by using the Zacks Rank. This model takes these estimate changes into account and provides a simple, actionable scoring system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of beating expectations, as confirmed by external audits, with #1 stocks delivering annual returns. average of +25%. since 1988. Over the past 30 days, our consensus EPS forecast has moved 0.35% lower. Currently, Citigroup holds a Zacks Rank of #3 (Hold).

In terms of valuation, Citigroup is currently trading at a forward P/E ratio of 10.08. This means a discount compared to its industry’s average Forward P/E of 10.67.

Meanwhile, C’s PEG ratio is currently 0.9. Comparable to the widely accepted P/E ratio, the PEG ratio also takes into account the company’s projected earnings growth. Banks – Top regional stocks hold an average PEG ratio of 1.75 based on yesterday’s closing prices.

Banking – the main regional industry is part of the financial sector. Currently, this industry holds a Zacks Rank of 58, putting it in the top 24% of 250+ industries.

The Zacks Industry Rank gauges the strength of our distinct industry groups by determining the average Zacks Rank of the individual stocks comprising the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

To follow C in upcoming trading sessions, be sure to use Zacks.com.

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