The most recent trading session ended with Citigroup (C) standing at $62.58, reflecting a +0.71% shift from the previouse trading day’s closing. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.
Heading into today, shares of the U.S. bank had 0% over the past month, lagging the Finance sector’s gain of 3.08% and the S&P 500’s gain of 2% in that time.
Investors will be eagerly watching for the performance of Citigroup in its upcoming earnings disclosure. The company’s earnings report is set to be unveiled on October 15, 2024. The company’s upcoming EPS is projected at $1.37, signifying a 9.87% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $19.92 billion, down 1.11% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.78 per share and revenue of $80.64 billion, indicating changes of -4.3% and +2.78%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Citigroup should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.63% decrease. Citigroup is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Citigroup is presently trading at a Forward P/E ratio of 10.75. This represents a discount compared to its industry’s average Forward P/E of 12.62.
It is also worth noting that C currently has a PEG ratio of 0.68. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. Banks – Major Regional stocks are, on average, holding a PEG ratio of 1.54 based on yesterday’s closing prices.
The Banks – Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 27% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Inc. (C) : Free Stock Analysis Report
