Citigroup Inc. (C) is set to unveil its first-quarter results on April 12. Wall Street anticipates a year-over-year decline in the bank’s earnings and revenue. With C’s results expected shortly, I have discussed why waiting for an opportune entry point in the stock could be wise.
For the first quarter, C’s EPS and revenue are expected to decline 30.6% and 4.9% year-over-year to $1.29 and $20.39 billion, respectively. The company has a solid earnings history, beating the consensus estimate in three of the trailing four quarters. After reporting its fourth-quarter results, C said it expects to cut its headcount by 20,000 and incur between $700 million and $1 billion in severance costs over the medium term.
