Citigroup (C) closed the most recent trading day at $74.55, moving -0.76% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.86%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.13%.
Heading into today, shares of the U.S. bank had gained 4.54% over the past month, outpacing the Finance sector's gain of 1.94% and the S&P 500's gain of 3.66% in that time.
Wall Street will be looking for positivity from C as it approaches its next earnings report date. On that day, C is projected to report earnings of $1.84 per share, which would represent year-over-year growth of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $17.77 billion, up 3.77% from the prior-year quarter.
C's full-year Zacks Consensus Estimates are calling for earnings of $7.74 per share and revenue of $73.85 billion. These results would represent year-over-year changes of +16.39% and +1.37%, respectively.
It is also important to note the recent changes to analyst estimates for C. Recent revisions tend to reflect the latest near-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% higher. C is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, C currently has a Forward P/E ratio of 9.7. For comparison, its industry has an average Forward P/E of 12.35, which means C is trading at a discount to the group.
It is also worth noting that C currently has a PEG ratio of 0.84. 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. C's industry had an average PEG ratio of 1.53 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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