In the latest trading session, Citigroup (C) closed at $50.67, marking a +1.54% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.53%. Meanwhile, the Dow gained 1.19%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the U.S. bank had lost 7.59% in the past month. In that same time, the Finance sector lost 1.54%, while the S&P 500 lost 3.1%.
Citigroup will be looking to display strength as it nears its next earnings release, which is expected to be October 14, 2022. On that day, Citigroup is projected to report earnings of $1.60 per share, which would represent a year-over-year decline of 25.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.55 billion, up 8.14% from the year-ago period.
C's full-year Zacks Consensus Estimates are calling for earnings of $7.33 per share and revenue of $75.45 billion. These results would represent year-over-year changes of -27.71% and +6.31%, respectively.
Investors might also notice recent changes to analyst estimates for Citigroup. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.22% lower within the past month. Citigroup is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Citigroup is holding a Forward P/E ratio of 6.81. This valuation marks a discount compared to its industry's average Forward P/E of 10.39.
It is also worth noting that C currently has a PEG ratio of 0.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. C's industry had an average PEG ratio of 1.35 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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