From Nasdaq:

Citigroup’s stock has gained 12% year-to-date (YTD) but is currently trading at $51 per share, which is 8% below its fair value of $56. The stock has been declining and underperforming the S&P 500 for the past three years, with YTD returns of 12% in 2023, -25% in 2022, and -2% in 2021.

In the third quarter of 2023, Citigroup outperformed consensus estimates, reporting total revenues of $20.14 billion, up 9% year-over-year (y-o-y). Adjusted net income improved 2% y-o-y to $3.55 billion, driven by higher investment banking, sales & trading, and treasury & trade solutions segments.

For the first nine months of FY 2023, Citigroup’s revenues grew 6% y-o-y to $61 billion. Adjusted net income amounted to $11.07 billion, down 10% y-o-y, due to an increase in provisions for credit losses.

Moving forward, Citigroup is forecasted to touch $79.1 billion in revenues in FY2023, with an annual GAAP EPS of $5.92. The cumulative total returns for 2017-2023 show that Citigroup has underperformed the S&P 500.



Read more: Rising Only Half the S&P’s Gain In 2023, Where Is Citigroup Stock Headed?