Citigroup (C) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Citigroup (C) closed at $43.45, marking a -0.59% move from the previous day. This move lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the U.S. bank had lost 12.65% in the past month. In that same time, the Finance sector lost 8.5%, while the S&P 500 lost 1.21%.
Investors will be hoping for strength from Citigroup as it approaches its next earnings release, which is expected to be April 14, 2023. In that report, analysts expect Citigroup to post earnings of $1.68 per share. This would mark a year-over-year decline of 16.83%. Our most recent consensus estimate is calling for quarterly revenue of $19.82 billion, up 3.3% from the year-ago period.
C's full-year Zacks Consensus Estimates are calling for earnings of $5.91 per share and revenue of $78.24 billion. These results would represent year-over-year changes of -16.88% and +3.86%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has moved 0.65% lower. Citigroup is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Citigroup is holding a Forward P/E ratio of 7.4. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 7.4.
Meanwhile, C's PEG ratio is currently 1.48. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.08 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 161, which puts it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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