Yahoo Finance Why Citigroup (C) Outpaced the Stock Market Today
Citigroup (C) closed the most recent trading day at $62.75, moving +1.77% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 1.22%, while the tech-heavy Nasdaq appreciated by 0.51%.
The U.S. bank's stock has climbed by 10.68% in the past month, exceeding the Finance sector's gain of 3.29% and the S&P 500's gain of 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Citigroup in its upcoming earnings disclosure. The company's earnings report is set to go public on April 12, 2024. The company is predicted to post an EPS of $1.42, indicating a 23.66% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $20.31 billion, indicating a 5.31% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.83 per share and revenue of $80.07 billion, which would represent changes of -3.48% and +2.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Citigroup. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.85% lower. Right now, Citigroup possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Citigroup is presently being traded at a Forward P/E ratio of 10.58. This expresses a discount compared to the average Forward P/E of 11.19 of its industry.
Meanwhile, C's PEG ratio is currently 1.72. 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 1.64 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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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Citigroup Inc. (C) : Free Stock Analysis Report
