Blue-Chip Stocks With High-Risk Earnings Reports: Citigroup (C)
Scheduled to Report: Friday, July 14 (AM)
Earnings Estimate: $1.21 per share
Revenue Estimate: $17.37 billion
Last up is a financial stock, which means you’ll have to look quick, because they’re first up to report.
The financials are in the spotlight this earnings season, but Citigroup Inc (NYSE:C) — which reports July 14, so very soon — will be more closely watched from our perspective.
From a technical perspective, Citigroup has rallied strongly ahead of the report, which puts the stock at risk for profit-taking unless the company blows expectations out of the water.
Last quarter, the company posted 3% year-over-year growth after a year of shrinkage on the top line. Analysts expect the top line to decline 1%, and anything worse than that will stunt this bank stock’s rally of the past couple months. Should Citi really disappoint, expect a pullback to support around $62-$63.
As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities.