Analysts on Wall Street project that Citigroup (C) will announce quarterly earnings of $1.84 per share in its forthcoming report, representing an increase of 16.5% year over year. Revenues are projected to reach $21.14 billion, increasing 0.2% from the same quarter last year.
Over the last 30 days, there has been a downward revision of 1.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Citigroup metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Markets Revenues, net of interest expense' will reach $5.75 billion. The estimate indicates a change of +6.9% from the prior-year quarter.
The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 64.2%. The estimate compares to the year-ago value of 67.3%.
Analysts expect 'Average balance - Total interest-earning assets' to come in at $2,264.14 billion. Compared to the current estimate, the company reported $2,250.19 billion in the same quarter of the previous year.
The average prediction of analysts places 'Total non-accrual loans' at $3.61 billion. The estimate compares to the year-ago value of $2.77 billion.
Analysts' assessment points toward 'Consumer non-accrual loans- Total' reaching $1.65 billion. The estimate is in contrast to the year-ago figure of $1.28 billion.
Analysts predict that the 'Tier 1 Capital Ratio' will reach 15.2%. The estimate compares to the year-ago value of 15.1%.
According to the collective judgment of analysts, 'Corporate non-accrual loans- Total' should come in at $1.73 billion. The estimate is in contrast to the year-ago figure of $1.49 billion.
The collective assessment of analysts points to an estimated 'Total Non-Interest Income' of $7.54 billion. The estimate compares to the year-ago value of $7.60 billion.
Based on the collective assessment of analysts, 'Net Interest Income' should arrive at $13.70 billion. Compared to the present estimate, the company reported $13.51 billion in the same quarter last year.
It is projected by analysts that the 'Net interest income as a % of average interest-earning assets' will reach $13.56 billion. Compared to the current estimate, the company reported $13.53 billion in the same quarter of the previous year.
View all Key Company Metrics for Citigroup here>>>
Shares of Citigroup have experienced a change of -5.6% in the past month compared to the -5.3% move of the Zacks S&P 500 composite. 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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