Citigroup’s (NYSE: C) stock price is under pressure this morning after an announcement from JP Morgan’s (NYSE: JPM) that beat profit expectations but fell short on revenue, dragging down the rest of the financial sector.
Citigroup shares are trading well below $4.00, although they have recovered some of their value since the bank’s capital raise, which pushed the company’s stock price down toward its $3.15 offering price.
The New York-based bank’s investors are hoping for a solid earnings report that could bring back some level of momentum into the stock. Although, many Wall Street analysts believe that Citigroup is far from being done with its financial woes, and that there’s still a lot of work to be done at the company before it re-earns its profitability status.
Citigroup will be releasing its earnings report on Tuesday, January 19th. Wall Street analysts’ consensus estimate predicts the company will see a $0.33 loss per share on $18.43 billion worth of revenue. Although, there is an improvement from Citigroup’s earnings from a year ago, analysts believe that Citigroup will continue to face losses.
