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Compared to Estimates, Citizens Financial Group (CFG) Q3 Earnings: A Look at Key Metrics
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Citizens Financial Group (CFG - Free Report) reported $2.01 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 7.5%. EPS of $0.85 for the same period compares to $1.30 a year ago.
The reported revenue represents a surprise of -1.43% over the Zacks Consensus Estimate of $2.04 billion. With the consensus EPS estimate being $0.92, the EPS surprise was -7.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Citizens Financial Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 64.2% versus the six-analyst average estimate of 62.2%.
Net Interest Margin: 3% versus 3% estimated by six analysts on average.
Average Balances - Interest-earning assets: $199.59 billion compared to the $200.23 billion average estimate based on six analysts.
Return on average total assets: 0.8% versus 0.8% estimated by five analysts on average.
Book value per common share: $44.75 versus the five-analyst average estimate of $45.63.
Return on average common equity: 7.5% versus 8.1% estimated by five analysts on average.
Total net charge-offs (recoveries): $153 million versus the five-analyst average estimate of $163.77 million.
Tangible book value per common share: $27.73 versus the five-analyst average estimate of $28.78.
Net charge-offs as a % of average loans and leases: 0.4% versus 0.4% estimated by four analysts on average.
Tier 1 Leverage Ratio: 9.4% versus the three-analyst average estimate of 9.3%.
Common Equity Tier 1 Capital Ratio (CET1 Capital Ratio): 10.4% versus 10.4% estimated by three analysts on average.
Tier 1 Capital Ratio: 11.5% compared to the 11.5% average estimate based on three analysts.
Shares of Citizens Financial Group have returned -1.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Citizens Financial Group (CFG) Q3 Earnings: A Look at Key Metrics
Citizens Financial Group (CFG - Free Report) reported $2.01 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 7.5%. EPS of $0.85 for the same period compares to $1.30 a year ago.
The reported revenue represents a surprise of -1.43% over the Zacks Consensus Estimate of $2.04 billion. With the consensus EPS estimate being $0.92, the EPS surprise was -7.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Citizens Financial Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 64.2% versus the six-analyst average estimate of 62.2%.
- Net Interest Margin: 3% versus 3% estimated by six analysts on average.
- Average Balances - Interest-earning assets: $199.59 billion compared to the $200.23 billion average estimate based on six analysts.
- Return on average total assets: 0.8% versus 0.8% estimated by five analysts on average.
- Book value per common share: $44.75 versus the five-analyst average estimate of $45.63.
- Return on average common equity: 7.5% versus 8.1% estimated by five analysts on average.
- Total net charge-offs (recoveries): $153 million versus the five-analyst average estimate of $163.77 million.
- Tangible book value per common share: $27.73 versus the five-analyst average estimate of $28.78.
- Net charge-offs as a % of average loans and leases: 0.4% versus 0.4% estimated by four analysts on average.
- Tier 1 Leverage Ratio: 9.4% versus the three-analyst average estimate of 9.3%.
- Common Equity Tier 1 Capital Ratio (CET1 Capital Ratio): 10.4% versus 10.4% estimated by three analysts on average.
- Tier 1 Capital Ratio: 11.5% compared to the 11.5% average estimate based on three analysts.
View all Key Company Metrics for Citizens Financial Group here>>>Shares of Citizens Financial Group have returned -1.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.