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Citigroup (C) Ascends But Remains Behind Market: Some Facts to Note
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The most recent trading session ended with Citigroup (C - Free Report) standing at $59.54, reflecting a +0.76% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 1.16%. Meanwhile, the Dow experienced a rise of 1.2%, and the technology-dominated Nasdaq saw an increase of 1.16%.
Prior to today's trading, shares of the U.S. bank had gained 2.16% over the past month. This has lagged the Finance sector's gain of 5.48% and the S&P 500's gain of 3.48% in that time.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on October 15, 2024. The company is predicted to post an EPS of $1.40, indicating a 7.89% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $19.92 billion, down 1.09% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $5.82 per share and a revenue of $80.67 billion, demonstrating changes of -3.64% and +2.81%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Citigroup. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Citigroup currently has a Forward P/E ratio of 10.16. This valuation marks a discount compared to its industry's average Forward P/E of 11.83.
Meanwhile, C's PEG ratio is currently 0.64. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. C's industry had an average PEG ratio of 1.45 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Citigroup (C) Ascends But Remains Behind Market: Some Facts to Note
The most recent trading session ended with Citigroup (C - Free Report) standing at $59.54, reflecting a +0.76% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 1.16%. Meanwhile, the Dow experienced a rise of 1.2%, and the technology-dominated Nasdaq saw an increase of 1.16%.
Prior to today's trading, shares of the U.S. bank had gained 2.16% over the past month. This has lagged the Finance sector's gain of 5.48% and the S&P 500's gain of 3.48% in that time.
Market participants will be closely following the financial results of Citigroup in its upcoming release. The company plans to announce its earnings on October 15, 2024. The company is predicted to post an EPS of $1.40, indicating a 7.89% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $19.92 billion, down 1.09% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $5.82 per share and a revenue of $80.67 billion, demonstrating changes of -3.64% and +2.81%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Citigroup. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Citigroup currently has a Forward P/E ratio of 10.16. This valuation marks a discount compared to its industry's average Forward P/E of 11.83.
Meanwhile, C's PEG ratio is currently 0.64. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. C's industry had an average PEG ratio of 1.45 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.