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After JPMorgan Chase and Wells Fargo, Citigroup will be the third major US financial institution to report its earnings for Q1 of 2019 on Monday, before the market open.
The market has already begun to price in on a potential positive data, as the share price has been experiencing a bullish price swing since late March. The underlying expectation is for Citigroup to experience the same positive impact of the high interest rates in the US similarly to the other two aforementioned companies, despite the string of internal controversies that drove the share price of Wells Fargo into a bearish correction read more about it here.
The forecasted EPS for the quarter are 1.78 USD, which is with 0.10 cents higher than the actual EPS for the same period last year. These perceived high expectations come amidst speculations that the company plans to invest more than 1$ billion into purchasing the Canary Wharf Tower in London.
Should the data from the report disappoint investors and miss the initial expectations, the perceived magnitude of a potential bearish correction can be expected to be quite high, precisely because the market has already priced in for bullish momentum.
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