Citigroup (C) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, Citigroup (C) reached $61.33, with a +2% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
Heading into today, shares of the U.S. bank had gained 8.68% over the past month, outpacing the Finance sector's gain of 4.23% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on April 12, 2024. In that report, analysts expect Citigroup to post earnings of $1.39 per share. This would mark a year-over-year decline of 25.27%. Alongside, our most recent consensus estimate is anticipating revenue of $20.31 billion, indicating a 5.31% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.85 per share and a revenue of $80.07 billion, indicating changes of -3.15% and +2.05%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Citigroup. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.44% lower. At present, Citigroup boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Citigroup has a Forward P/E ratio of 10.27 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.08.
Investors should also note that C has a PEG ratio of 1.66 right now. 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 1.62 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Citigroup Inc. (C) : Free Stock Analysis Report
