Wall Street brokerages predict that Citigroup Inc (NYSE:C) will report earnings of $1.66 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Citigroup’s earnings, with estimates ranging from $1.56 to $1.71. Citigroup posted earnings per share of $1.42 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.9%. The company is expected to report its next quarterly earnings results on Thursday, October 11th.
According to Zacks, analysts expect that Citigroup will report full year earnings of $6.58 per share for the current fiscal year, with EPS estimates ranging from $6.50 to $6.70. For the next financial year, analysts forecast that the firm will report earnings of $7.51 per share, with EPS estimates ranging from $6.91 to $7.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Citigroup.
Several analysts have issued reports on C shares. Morgan Stanley dropped their price objective on Citigroup from $93.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, April 30th. ValuEngine lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Daiwa Capital Markets lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price objective on the stock. in a research note on Thursday, May 17th. Deutsche Bank upgraded Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Wednesday, June 20th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $85.00 price objective on shares of Citigroup in a research note on Monday, July 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $81.65.
In related news, insider Raja Akram sold 500 shares of the stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $69.21, for a total transaction of $34,605.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total value of $1,085,400.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Citigroup by 2.1% during the second quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock worth $7,199,839,000 after purchasing an additional 2,247,392 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Citigroup by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 33,678,989 shares of the financial services provider’s stock worth $2,273,331,000 after purchasing an additional 287,814 shares during the last quarter. ValueAct Holdings L.P. lifted its stake in Citigroup by 55.4% during the second quarter. ValueAct Holdings L.P. now owns 25,175,500 shares of the financial services provider’s stock worth $1,684,744,000 after purchasing an additional 8,975,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Citigroup by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 16,802,064 shares of the financial services provider’s stock worth $1,124,412,000 after purchasing an additional 726,738 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Citigroup by 2.7% during the second quarter. LSV Asset Management now owns 13,634,855 shares of the financial services provider’s stock worth $912,444,000 after purchasing an additional 352,801 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors and hedge funds.
NYSE:C traded up $0.96 on Wednesday, hitting $70.63. The company’s stock had a trading volume of 546,454 shares, compared to its average volume of 16,846,100. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $180.57 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.96 and a beta of 1.49. Citigroup has a one year low of $64.38 and a one year high of $80.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Monday, August 6th will be given a $0.45 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.55%. Citigroup’s dividend payout ratio is presently 33.77%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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