Brokerages Anticipate Citigroup Inc. (NYSE:C) Will Announce Earnings of $1.61 Per Share

Wall Street analysts expect Citigroup Inc. (NYSE:CGet Rating) to post earnings of $1.61 per share for the current quarter, Zacks reports. Eleven analysts have made estimates for Citigroup’s earnings. The highest EPS estimate is $1.78 and the lowest is $1.23. Citigroup reported earnings of $2.84 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 43.3%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Citigroup will report full year earnings of $6.94 per share for the current financial year, with EPS estimates ranging from $5.99 to $7.75. For the next fiscal year, analysts forecast that the business will post earnings of $7.42 per share, with EPS estimates ranging from $5.81 to $8.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Citigroup.

Citigroup (NYSE:CGet Rating) last released its earnings results on Thursday, April 14th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.55 by $0.47. The firm had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.12 billion. Citigroup had a return on equity of 10.96% and a net margin of 22.95%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.62 EPS.

Several research analysts have weighed in on the company. BMO Capital Markets lowered their price target on Citigroup from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. Atlantic Securities lowered Citigroup from an “overweight” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Thursday, March 3rd. Oppenheimer lowered their price target on Citigroup from $100.00 to $93.00 in a research report on Tuesday, May 3rd. Jefferies Financial Group lowered Citigroup from a “buy” rating to a “hold” rating and lowered their price target for the stock from $79.00 to $60.00 in a research report on Monday, March 7th. Finally, StockNews.com assumed coverage on Citigroup in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Hold” and an average target price of $69.87.

NYSE C traded down $0.47 during trading on Friday, hitting $53.62. The stock had a trading volume of 19,509,257 shares, compared to its average volume of 27,446,803. The company has a market capitalization of $106.22 billion, a PE ratio of 6.32, a P/E/G ratio of 0.64 and a beta of 1.61. The company’s 50-day moving average price is $51.70 and its two-hundred day moving average price is $59.08. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.92. Citigroup has a 12 month low of $45.40 and a 12 month high of $80.29.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Monday, May 2nd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Friday, April 29th. Citigroup’s dividend payout ratio is 24.06%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Private Wealth Services LLC grew its holdings in Citigroup by 3.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 60,426 shares of the company’s stock valued at $3,227,000 after buying an additional 1,781 shares in the last quarter. Gradient Investments LLC grew its holdings in Citigroup by 154.8% in the 1st quarter. Gradient Investments LLC now owns 4,824 shares of the company’s stock valued at $258,000 after buying an additional 2,931 shares in the last quarter. Midwest Wealth Management Inc. lifted its position in shares of Citigroup by 7.8% during the 1st quarter. Midwest Wealth Management Inc. now owns 22,294 shares of the company’s stock valued at $1,190,000 after acquiring an additional 1,605 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Citigroup by 11.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,976 shares of the company’s stock valued at $158,000 after acquiring an additional 298 shares during the period. Finally, M Holdings Securities Inc. bought a new stake in shares of Citigroup during the 1st quarter valued at $943,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

About Citigroup (Get Rating)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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