In the latest trading session, Citigroup (C) closed at $42.30, marking a -0.89% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.94%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 1.53%.
Heading into today, shares of the U.S. bank had gained 4.05% over the past month, outpacing the Finance sector's gain of 2.54% and the S&P 500's gain of 1.85% in that time.
Wall Street will be looking for positivity from Citigroup as it approaches its next earnings report date. This is expected to be October 13, 2023. The company is expected to report EPS of $1.29, down 14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $19.35 billion, up 4.54% from the year-ago period.
C's full-year Zacks Consensus Estimates are calling for earnings of $6.01 per share and revenue of $79.12 billion. These results would represent year-over-year changes of -15.47% and +5.03%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.37% lower. Citigroup is currently a Zacks Rank #3 (Hold).
In terms of valuation, Citigroup is currently trading at a Forward P/E ratio of 7.1. This valuation marks a discount compared to its industry's average Forward P/E of 8.43.
It is also worth noting that C currently has a PEG ratio of 1.6. 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 1.44 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 164, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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