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Citigroup (C) Rises Higher Than Market: Key Facts September 16, 2024
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Citigroup (C - Free Report) closed the latest trading day at $58.39, indicating a +1.25% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.
Shares of the U.S. bank witnessed a loss of 6.07% over the previous month, trailing the performance of the Finance sector with its gain of 4.44% and the S&P 500's gain of 3.67%.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on October 15, 2024. The company is expected to report EPS of $1.37, down 9.87% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $19.95 billion, indicating a 0.96% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $5.78 per share and a revenue of $80.61 billion, demonstrating changes of -4.3% and +2.74%, respectively, from the preceding year.
Any recent changes to analyst estimates for Citigroup should also be noted by investors. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% lower. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Citigroup is presently trading at a Forward P/E ratio of 9.98. This expresses a discount compared to the average Forward P/E of 11.86 of its industry.
It is also worth noting that C currently has a PEG ratio of 0.63. 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. The average PEG ratio for the Banks - Major Regional industry stood at 1.48 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Citigroup (C - Free Report) closed the latest trading day at $58.39, indicating a +1.25% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.
Shares of the U.S. bank witnessed a loss of 6.07% over the previous month, trailing the performance of the Finance sector with its gain of 4.44% and the S&P 500's gain of 3.67%.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on October 15, 2024. The company is expected to report EPS of $1.37, down 9.87% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $19.95 billion, indicating a 0.96% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $5.78 per share and a revenue of $80.61 billion, demonstrating changes of -4.3% and +2.74%, respectively, from the preceding year.
Any recent changes to analyst estimates for Citigroup should also be noted by investors. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% lower. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Citigroup is presently trading at a Forward P/E ratio of 9.98. This expresses a discount compared to the average Forward P/E of 11.86 of its industry.
It is also worth noting that C currently has a PEG ratio of 0.63. 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. The average PEG ratio for the Banks - Major Regional industry stood at 1.48 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.