Regional banking company Citizens Financial Group (NYSE: CFG) will be reporting earnings this Wednesday morning. Here’s what to look for.
Citizens Financial Group beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $2.12 billion, up 11.3% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but a narrow beat of analysts’ EPS 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, analysts are expecting Citizens Financial Group’s revenue to grow 8.4% year on year to $2.14 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.11 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Citizens Financial Group has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Citizens Financial Group’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. First Horizon delivered year-on-year revenue growth of 8.1%, beating analysts’ expectations by 3.2%, and BOK Financial reported revenues up 12.7%, topping estimates by 7.6%. First Horizon traded up 102% following the results.
Read our full analysis of First Horizon’s results here and BOK Financial’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Citizens Financial Group is up 1.9% during the same time and is heading into earnings with an average analyst price target of $67.88 (compared to the current share price of $61).
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