In its upcoming report, Citigroup (C) is predicted by Wall Street analysts to post quarterly earnings of $1.91 per share, reflecting an increase of 26.5% compared to the same period last year. Revenues are forecasted to be $21.01 billion, representing a year-over-year increase of 3.4%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Citigroup metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Markets Revenues, net of interest expense' to reach $4.98 billion. The estimate indicates a change of +3.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Services Revenues- Total non-interest revenue' of $1.57 billion. The estimate indicates a year-over-year change of -1.6%.
The combined assessment of analysts suggests that 'Revenue by component- Markets- Fixed Income markets- Fixed Income markets Total' will likely reach $3.69 billion. The estimate points to a change of +3% from the year-ago quarter.
The average prediction of analysts places 'Wealth Revenues- Total non-interest revenue' at $868.47 million. The estimate indicates a year-over-year change of +12.9%.
Analysts predict that the 'Efficiency Ratio' will reach 63.9%. Compared to the present estimate, the company reported 65.2% in the same quarter last year.
The consensus among analysts is that 'Book value per common share' will reach $108.52 . The estimate is in contrast to the year-ago figure of $101.91 .
Analysts' assessment points toward 'Average balance - Total interest-earning assets' reaching $2402.27 billion. The estimate compares to the year-ago value of $2282.12 billion.
It is projected by analysts that the 'Leverage Ratio' will reach 6.9%. The estimate compares to the year-ago value of 7.2%.
Analysts expect 'Total non-accrual loans' to come in at $3.73 billion. Compared to the current estimate, the company reported $2.17 billion in the same quarter of the previous year.
The consensus estimate for 'Supplementary Leverage Ratio' stands at 5.6%. The estimate is in contrast to the year-ago figure of 5.8%.
According to the collective judgment of analysts, 'Total non-accrual assets' should come in at $3.67 billion. The estimate is in contrast to the year-ago figure of $2.19 billion.
Based on the collective assessment of analysts, 'Consumer non-accrual loans- Total' should arrive at $1.84 billion. The estimate compares to the year-ago value of $1.22 billion.
View all Key Company Metrics for Citigroup here>>>
Shares of Citigroup have demonstrated returns of -0.5% over the past month compared to the Zacks S&P 500 composite's +4% change. With a Zacks Rank #3 (Hold), C is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Citigroup Inc. (C): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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