|Bid||67.45 x 3000|
|Ask||67.59 x 900|
|Day's Range||66.50 - 67.72|
|52 Week Range||48.42 - 75.24|
|Beta (3Y Monthly)||1.86|
|PE Ratio (TTM)||9.82|
|Earnings Date||Jul 15, 2019|
|Forward Dividend & Yield||1.80 (2.90%)|
|1y Target Est||80.13|
It is nearly 30 years since Rudiger Dornbusch and Sebastian Edwards published a seminal book, The Macroeconomics of Populism. Because of this disregard for basic economic logic, their policy experiments inevitably ended badly, with some combination of inflation, capital flight, recession and default. Salvador Allende’s Chile in the 1970s, or Alan García’s Peru in the 1980s, capture this story perfectly.
[Editor's note: This story was previously published in February 2019. It has since been updated and republished by InvestorPlace staff.]With the market up more than 20% since the late-December lows, the argument that stocks -- at least some stocks -- are back to being overvalued and overbought holds at least a little water. Others argue that the rebound rally has only just begun, and valuation isn't yet a problem.The truth is, as usual, somewhere in the middle of the two extremes.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor a surprising number of names, however, it's a debate that's largely irrelevant. Some stocks are simply (still) too cheap to overlook, poised to make gains whether or not the broad market's tide helps out in the foreseeable future. For deeply undervalued equities in anything but a wildly bearish environment, the bigger risk is being on the sidelines rather than in a position. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 To that end, here's a rundown of 10 of the market's best cheap stocks to buy right now. In some cases, the per-share price is just oddly low. In other cases, prices compared to earnings are well into single-digit territories. In most cases, both qualities apply. In no particular order …Source: NASA Blueshift via Flickr CBS Corporation (CBS)CBS Corporation (NYSE:CBS) may be down of late, but I still have confidence in CBS stock anyway. The television giant has improved in a big way where it needed to the most … streaming. By 2022, it should have 25 million streaming customers in tow.It's only a sign of the current paradigm shift in how video is delivered to consumers. It's also the reason we've seen a frenzy of M&A within the film and TV arena, the most notable of which is the Walt Disney (NYSE:DIS) acquisition of Twenty-First Century Fox (NASDAQ:FOXA). CBS has also jockeyed to acquire Viacom (NASDAQ:VIAB).With CBS stock priced at only 7.5 times this year's expected earnings though, the company would also make for a dirt-cheap entry or expansion into the entertainment industry. Air Lease (AL)Source: Karen Neoh via FlickrAir Lease (NYSE:AL) relies on at least a decent economy to drive demand for passenger jets, and recently, investors have seen what they think are too many red flags.Take a closer look at all the data, though, and matters aren't as dire as they may seem. While global economic growth may be running into a near-term headwind in the wake of plenty of political drama, in the bigger picture, airlines still desperately need new aircraft to satisfy demand.In November of last year, and for the 12 months ending then, enplanements and total miles flown once again reached record levels. Boeing (NYSE:BA) believes that between now and 2037, the world's airlines will take delivery of more than 42,000 new aircraft. * 7 First-Half IPO Stocks That Will Falter in 2019's Second Half Given that trend and outlook, Air Lease is undervalued at its forward P/E of just above 5.8. Micron Technology (MU)Source: Shutterstock Add Micron Technology (NASDAQ:MU) to a list of cheap stocks to buy before it's no longer cheap.It's not an easy idea for some investors to get behind. The ramp-up of computer memory production has created a price-cutting glut, and it took a toll on Micron's most recently-reported quarter's bottom line. The previous quarter's gross margins of 59% were further projected to slip to between 50% and 53%, versus estimates of 55%.This is a cycle investors have seen over and over again, however, with the same end result every time. That is, producers will curtail production, abating supply and restoring pricing power. Rivals Samsung Electronics (OTCMKTS:SSNLF) and SK Hynix, in fact, have already decided to slow their DRAM expansion plans, and Micron has vowed to cut capital expenditures by more than $1 billion this year.It could take a while for tempered production to restore DRAM prices, but trading at only 7.6 times this year's projected per-share profits, MU stock is worth the wait. It has been every time before. Citigroup (C)Source: Shutterstock Citigroup (NYSE:C), like most bank stocks, had a rough 2018, and though it has bounced this year, the 2019 rally to-date has been subpar. The stock is trading at a trailing P/E of 10, and a forward-looking earnings multiple of 8 … cheap even by current banking stock standards, which have been abnormally low.The reason for the mismatched price and forecasted earnings is understandable enough. That is, enough investors are convinced interest rates are going to become just a little too high against a backdrop of just a little too much economic weakness. The concern is largely manifested in the flattening yield curve, which is particularly problematic for banks. * The 7 Best Tech Stocks to Buy for the Second Half of 2019 As was the case with Air Lease though (and will be for several others below), the worry isn't fully merited. NCR Corporation (NCR)Source: Shutterstock You may know the company better as National Cash Register Corporation, even though it changed its name years ago to NCR Corporation (NYSE:NCR). The less-limiting moniker reflect the fact that point-of-sale devices are now much more than a means of completing a sale. Since then, the company has expanded into areas like ATM machines, self-service kiosks and full-blown inventory management platforms.It's certainly a move in the right direction, although it's arguable the market isn't giving the new NCR enough credit. Shares are priced at only 10 times this year's projected profits.That might have something to do with the fact that outfits like Square (NYSE:SQ) and Paypal (NASDAQ:PYPL) are encroaching in NCR's turf. It's a legitimate concern too. There's a huge subset of companies, however, that will prefer to do business with a long-established name like NCR. Timken (TKR)Source: Oleg Zaytsev via FlickrTimken (NYSE:TKR) is anything but a household name. The company makes ball bearings and industrial transmissions to supply mechanical power where it's needed in a manufacturing environment.It's anything but a riveting (pun fully intended) business. But, it's a business that's starting to grow in earnest again as America's industrial engine revs. After rolling over in 2015 as the nation started to fully transition to a service-oriented economy, the United States began making more goods again in 2016. It's never looked back. * 5 Great Dividend Stocks to Buy From the Tech Sector The paradigm shift has proven to be a boon for Timken, which has grown revenue at a double-digit pace since early 2017. Better still, the new revenue trend has set the stage for earnings growth this year that translates into a projected P/E of only 8.3. General Motors (GM)Source: Shutterstock There's no denying General Motors (NYSE:GM) ran into a headwind three years ago, when "peak auto" became a reality. Though a victim of its own rampant success -- subsequent comparisons have all looked lackluster -- investors tend to only care about how current results stack up against the recent past.Those investors, however, may be unfairly harsh with their treatment of GM stock and its peers. While it remains unclear when we'll see another automobile purchase growth cycle again, General Motors is still a solid cash cow, yielding 4.25% while it sports a dirt cheap trailing P/E of 5.7.Regardless, the carmaker continues to impress regardless of the stock's valuation. Nicolas Chahine commented, "the 2018 barrage of tariff headlines made GM stock a tough trade as it fell sharply off its January 2018 highs. This year so far it has been the total opposite. GM management clearly gave Wall Street reason to rejoice and buy the stock and investors ate it up. This morning, they backed up their claim…" Lumentum Holdings (LITE)Don't worry if Lumentum Holdings (NASDAQ:LITE) is an unfamiliar name -- most investors probably haven't heard of it. The company makes communications equipment and industrial lasers, and has a big presence in the fiber optic industry.There has never been a time when the world has needed such high-speed connectivity. As more and more wireless devices compete for a finite amount of radio frequency bandwidth, middlemen are looking for easier and faster ways to offload some of that traffic to physical infrastructure. Fiber optic lines are more than up to the task. * 3 Hot Trades for 3 Spicy IPO Stocks The market doesn't seem to see it yet, pricing LITE stock at a forward P/E of 9.7 despite this year's expected revenue growth of 28% and next year's 27%. As time passes though, Lumentum's role in the future of telecom will become clearer. Terex (TEX)Source: Shutterstock Name any piece of mobile machinery, and Terex (NYSE:TEX) probably makes it. From backhoes to cherry pickers to tracked conveyers to cranes, Terex has solutions for almost any industrial application.That diversity hasn't helped revenue in a while, with the top line peaking in 2014. The stock has been hit-and-miss since then … more misses than hits.The doubters may have overshot their pessimism though, sending TEX stock to a forward-looking P/E of 7.2 following what should be nearly 17% revenue growth for 2018. While sales growth is expected to slow this year, the company more often than not topped sales and earnings estimates in 2018. It may hold a few pleasant surprises in store this year. Capital One (COF)Source: Eric Hauser via Flickr (Modified)Last but not least, add credit card company Capital One Financial (NYSE:COF) to your list of cheap stocks to consider here.Like Citigroup, Air Lease and others, investors have been fearful that a slowing economy -- maybe even a shrinking one -- could work against Capital One. In fact, rising interest rates could hit Capital One particularly hard in that situation, as its target market of risky borrowers could be the first to underpay of stop payments altogether should the global economic condition sour. * 3 Hot Internet Stock Trades It's another case, however, where the doubters may have overshot. COF stock is now priced at only 7.5 times this year's expected profits, making it one of the cheapest stocks to own in the financial sector. The worst-case scenario is more than priced in.As of this writing, James Brumley held a long position in CBS Corporation. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Oversold Stocks to Run From * 7 Red-Hot E-Commerce Stocks to Consider * 4 Stocks Surging on Earnings Surprises Compare Brokers The post The 10 Best Cheap Stocks to Buy Right Now appeared first on InvestorPlace.
Russia’s central bank shifted solidly to monetary easing, saying its first interest rate cut in more than a year on Friday could be followed by two more in 2019, as inflation slows and growth sputters. The move makes Russia the latest emerging market to shift toward more dovish policy as escalating trade woes weigh on growth. The change in trajectory of interest rates in developed economies reduces the risk of persistent outflows from emerging markets, the Bank of Russia said in a statement.
Strong fundamentals, prospects and efforts to further expand revenues are expected to drive JPMorgan (JPM) in the quarters ahead.
Citigroup Inc NYSE:CView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for C with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting C. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold C had net inflows of $5.28 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. C credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
On June 3, 2019, the Mexican Banking and Securities Commission authorized Citigroup Inc. to deregister its common stock from the Mexican Securities Registry and delist from the Mexican Stock Exchange, effective at the end of the trading day on July 10, 2019.
Given the chances of a Fed rate cut early next month, State Street (STT) reduces revenue expectation for the second quarter of 2019.
Are you worried your parents didn’t teach you enough about money? You’re not alone. Nearly one in four adults in the U.S. -- 24%, according to the study -- say their parents didn’t give them any sort of financial education growing up, according to a new report.
South Africa's antitrust tribunal concluded on Wednesday that it has no powers to charge foreign banks being investigated in an exchange-rate rigging case unless they have a presence in the country. Partly on that basis, the tribunal sent the case back to the country's competition watchdog, giving it 40 days to clarify the charges it plans to bring. In a probe that has rumbled on since 2015, the Competition Commission has been seeking fines against 23 local and foreign banks that it alleges colluded to coordinate activities when giving quotes to customers buying or selling the rand and the dollar.
Citigroup's (C) lack of internal control measures, as stated by the Financial Services Agency, results in a ban on the company from availing some special auction participation entitlements.
Citigroup will issue its second quarter results via press release at approximately 8:00 AM on Monday, July 15, 2019. At 10:00 AM , results will be reviewed via live webcast and teleconference.
Citigroup (C) seeks to bolster presence in Southeast Asian markets with the support of Grab's popularity and strong demand in the area.
The Ministry of Finance ordered Citigroup Global Markets Japan Inc.’s exclusion from participating in “non-price competitive auctions” and certain other government bond sales for a month from June 13, it said in a statement Tuesday. The suspension comes days after the Financial Services Agency fined the firm 133 million yen ($1.2 million) and ordered it to improve internal controls for failing to detect instances of manipulation of the Japanese government bond market. Citigroup was found to have placed orders last October for JGB futures contracts without intending to execute them, a practice known as spoofing.
Citigroup has teamed up with Singapore-based ride-hailing firm Grab to launch co-branded credit cards, as it looks to boost its Asian customer base by about 13% via partnerships with digital firms, a senior Citi executive said. The new cards mark the latest step in Grab's big push into the financial services sector, an area it has earmarked for growth. The Citi-Grab co-branded cards will be issued in the Philippines on Tuesday and in Thailand later this year, before being rolled our in other Southeast Asian markets.
If you’ve taken a look at bedraggled bank stocks and expectations of an interest rate cut and think now might be a good time to buy financials, think again, KBW says.
Wells Fargo (WFC) continues to make efforts to settle a two-year old lawsuit in order to concentrate more on the core business.
Today, Citi celebrates its 14th annual Global Community Day with 110,000 Citi volunteers in more than 400 cities across 90 countries and territories participating in service activities in their local communities.
Financial stocks swung to losses in premarket trade Friday, after a big miss in the May jobs report sent Treasury yields lower, which could weigh on bank profits. The SPDR Financial Select Sector ETF fell 0.4% in premarket trade, after being up 0.3% just before the data was released. Among the ETF's most heavily weighted components, shares of J.P. Morgan Chase & Co. fell 0.7% after being up 0.3% just before the data; Bank of America Corp. swung to a loss of 1.0% after being up 0.3%; Citigroup Inc. dropped 1.1% after being up 0.3%; and Wells Fargo & Co. lost 0.7%, after gaining less than 0.1%. The yield on the 10-year Treasury note fell 3.9 basis points toward a 21-month low of 2.084%. Lower longer-term interest rates could hurt bank profits, as it could narrow the spread between what the banks make on longer-term assets, such as loans, and the costs of shorter-term liabilities. Meanwhile, futures for the Dow Jones Industrial Average inched up 4 points.