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Citizens Financial Group (CFG) Q1 Earnings: What To Expect

CFG Cover Image

Regional banking company Citizens Financial Group (NYSE: CFG) will be reporting earnings this Thursday before the bell. Here’s what you need to know.

Citizens Financial Group beat analysts’ revenue expectations last quarter, reporting revenues of $2.16 billion, up 9.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ tangible book value per share estimates and 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, the market is expecting Citizens Financial Group’s revenue to grow 11.6% year on year, a reversal from the 1.1% decrease it recorded in the same quarter last year.

Citizens Financial Group Total Revenue

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 multiple times over the last two years.

Looking at Citizens Financial Group’s peers in the banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. FB Financial delivered year-on-year revenue growth of 30.8%, missing analysts’ expectations by 1.7%, and Citigroup reported revenues up 13.9%, topping estimates by 4.9%. FB Financial traded down 2.3% following the results.

Read our full analysis of FB Financial’s results here and Citigroup’s results here.

There has been positive sentiment among investors in the banks segment, with share prices up 9% on average over the last month. Citizens Financial Group is up 14.2% during the same time and is heading into earnings with an average analyst price target of $71.28 (compared to the current share price of $64.37).

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