NYSE:CIAInsurance
Citizens (CIA) Stock Sinks After Profit Turns To Loss
CitiGroups stock just took a 16.9% hit in a single session, yet the story behind the move is not as simple as a bad quarter. Investors had been paying a premium P/E for Citizens on the idea of cleaner earnings and improving profitability. This Q2 print instead delivered a small loss, with basic earnings per share slipping into slightly negative territory and net income flipping red, which jarred that premium thesis.
The headline this quarter is margin and profit pressure. Revenue held around...