Regional banking company Citizens Financial Group (NYSE: CFG) will be reporting earnings tomorrow before market open. Here’s what to expect.
Citizens Financial Group beat analysts’ revenue expectations last quarter, reporting revenues of $2.28 billion, up 12.1% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ net interest income estimates but a miss of analysts’ tangible book value per share estimates.
Is Citizens Financial Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Citizens Financial Group’s revenue to grow 10.2% year on year, slowing from the 11.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Citizens Financial Group has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Citizens Financial Group’s peers in the banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Home Bancshares delivered year-on-year revenue growth of 5.4%, missing analysts’ expectations by 1.7%, and FB Financial reported flat revenue, falling short of estimates by 2.8%. FB Financial traded down 4.8% following the results.
Read our full analysis of Home Bancshares’s results here and FB Financial’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the banks stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 6% on average over the last month. Citizens Financial Group is down 5.5% during the same time and is heading into earnings with an average analyst price target of $78.29 (compared to the current share price of $63.15).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
