Can Citigroup (C) Keep Earnings Hot Streak Alive for Big Banks?

What's Happening With C View more about C >

Citigroup (C) reports first-quarter numbers before the market opens on April 15. The consensus calls for earnings of $1.78 per share and sales of $18.71 billion. During the same period last year the bank earned $1.68 and reported revenue of $18.9 billion. The stock is up 29% year to date.

Technical Analysis

C was recently trading at $67.17 down $8.06 from its 12-month high and $18.75 above its 12-month low. InvestorsObserver’s Stock Score Report gives C an 89 long-term technical score and a 79 short-term technical score. The stock has recent support above $62 and recent resistance below $72. Of the 13 analysts who cover the stock 12 rate it Strong Buy, 1 rate it Buy, 0 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, C gets a score of 68 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

Citigroup will look to build on the momentum in the financial sector following upbeat reports from both Wells Fargo (WFC) and JP Morgan (JPM) which got the earnings season off to a strong start. Banks continue to enjoy the benefits of last year’s rising interest rates, and while the Federal Reserve is not planning to boost rates in 2019 early reports show that last year’s rate hikes are still having a very positive impact on operations. Most of the big banks have been in a sideways pattern the last few months as Wall Street worried about how much impact previous rate hikes were having on the sector as well as the news that the Fed will most likely leave rates unchanged in 2019, but if we see additional positive reports from banks as we move deeper into the earnings season financial stocks will finally start to participate in the strong market we have witnessed in recent months. C got a boost in sympathy to the strong reports we have already witnessed, but the stock remains very cheap with a forward P/E of just 7.9 so there is a lot of additional upside as long as the numbers look OK. The street expects C to follow suit with a strong set of numbers and has a whisper number of $1.84 for the quarter. Analysts have an average price target of $80.96 on the stock.

C
About Citigroup Inc.

Citigroup is a global financial services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into two primary segments, the global consumer banking segment, which provides basic branch banking around the world, and the institutional clients group, which provides large customers around the globe with investment banking, cash management, and other products and services.

  • Last Price:
    $67.48
  • Previous Close:
    $67.08
  • Change:
    $0.40 (0.60%)
  • Open:
    $67.15
  • Volume:
    8,791,275
  • Average Volume (100 Day):
    14,419,993
  • Market Capitalization:
    $156.0 B
  • Day's Range:
    $66.50 - $67.72
  • Dividend Yield:
    2.68%
  • 52-week Range:
    $75 - $48.42
  • P-E:
    9.80
  • EPS:
    $6.87
  • Earnings Date:
    7/12/19
  • Ex Dividend Date:
    5/3/19
  • Sector:
    Financial Services
  • Industry:
    Banks - Global
  • Analyst Average Recommendation:
    Strong Buy

Already a member?

Login to see your Stocks to Watch Trade Ideas.

Not yet a member?

Receive a Morning Action trade idea every market day in the Morning Update, plus Stocks to Watch Trade Ideas every Saturday.

Become A Member

|