Citigroup Inc (NYSE:C) Expected to Post Earnings of $1.98 Per Share

Equities analysts expect Citigroup Inc (NYSE:C) to post earnings of $1.98 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Citigroup’s earnings, with the lowest EPS estimate coming in at $1.94 and the highest estimate coming in at $2.03. Citigroup reported earnings of $1.74 per share during the same quarter last year, which suggests a positive year over year growth rate of 13.8%. The business is scheduled to report its next earnings results on Friday, October 11th.

On average, analysts expect that Citigroup will report full year earnings of $7.64 per share for the current financial year, with EPS estimates ranging from $7.52 to $7.75. For the next fiscal year, analysts forecast that the company will report earnings of $8.61 per share, with EPS estimates ranging from $8.21 to $9.00. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Citigroup.

Citigroup (NYSE:C) last announced its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.17. The firm had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share.

C has been the subject of a number of recent analyst reports. Berenberg Bank set a $78.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. ValuEngine cut Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America cut Citigroup to a “hold” rating in a research report on Friday, July 26th. Finally, Barclays upped their target price on Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $79.12.

Citigroup stock traded down $1.96 during trading hours on Friday, reaching $61.95. 15,056,823 shares of the company were exchanged, compared to its average volume of 15,013,443. The firm has a market cap of $144.38 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.69 and a beta of 1.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average of $68.50 and a 200 day moving average of $66.41. Citigroup has a 12 month low of $48.42 and a 12 month high of $75.24.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.29%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 2nd. Citigroup’s dividend payout ratio is currently 30.68%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LFA Lugano Financial Advisors SA acquired a new position in shares of Citigroup during the 1st quarter worth approximately $27,000. Personal Wealth Partners acquired a new position in shares of Citigroup during the 2nd quarter worth approximately $27,000. Harvest Group Wealth Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth approximately $28,000. Centaurus Financial Inc. increased its position in shares of Citigroup by 95.1% during the 1st quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 835 shares during the last quarter. Finally, Mcmillion Capital Management Inc. acquired a new position in shares of Citigroup during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 76.78% of the company’s stock.

About Citigroup

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

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