Wall Street analysts forecast that Citigroup (C) will report quarterly earnings of $1.58 per share in its upcoming release, pointing to a year-over-year increase of 17.9%. It is anticipated that revenues will amount to $20.94 billion, exhibiting an increase of 7% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 5.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation 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.
Given this perspective, it's time to examine the average forecasts of specific Citigroup metrics that are routinely monitored and predicted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Markets Revenues, net of interest expense' of $4.50 billion. The estimate indicates a change of -1.6% from the prior-year quarter.
The average prediction of analysts places 'Services Revenues- Total non-interest revenue' at $1.66 billion. The estimate indicates a year-over-year change of -3.9%.
Based on the collective assessment of analysts, 'Revenue by component- Markets- Fixed Income markets- Fixed Income markets Total' should arrive at $3.36 billion. The estimate indicates a year-over-year change of -3.3%.
Analysts forecast 'Wealth Revenues- Total non-interest revenue' to reach $758.85 million. The estimate suggests a change of +0.4% year over year.
Analysts expect 'Efficiency Ratio' to come in at 66.8%. The estimate is in contrast to the year-ago figure of 67.3%.
The combined assessment of analysts suggests that 'Book value per common share' will likely reach $109.75 . The estimate is in contrast to the year-ago figure of $101.62 .
Analysts predict that the 'Average balance - Total interest-earning assets' will reach $2455.15 billion. The estimate compares to the year-ago value of $2260.82 billion.
According to the collective judgment of analysts, 'Leverage Ratio' should come in at 6.7%. Compared to the present estimate, the company reported 7.2% in the same quarter last year.
It is projected by analysts that the 'Total non-accrual loans' will reach $3.86 billion. The estimate compares to the year-ago value of $2.69 billion.
The consensus estimate for 'Supplementary Leverage Ratio' stands at 5.6%. Compared to the present estimate, the company reported 5.8% in the same quarter last year.
The consensus among analysts is that 'Total non-accrual assets' will reach $3.84 billion. Compared to the present estimate, the company reported $2.71 billion in the same quarter last year.
Analysts' assessment points toward 'Consumer non-accrual loans- Total' reaching $1.84 billion. The estimate is in contrast to the year-ago figure of $1.31 billion.
View all Key Company Metrics for Citigroup here>>>
Over the past month, Citigroup shares have recorded returns of +7.9% versus the Zacks S&P 500 composite's +1.2% change. Based on its Zacks Rank #3 (Hold), C will likely exhibit a performance that aligns with the overall market in the upcoming period. 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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