Citigroup Inc. (C) Forecasted to Earn Q4 2016 Earnings of $1.07 Per Share
Citigroup Inc. (NYSE:C) – Equities researchers at Jefferies Group dropped their Q4 2016 EPS estimates for shares of Citigroup in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now expects that the firm will post earnings per share of $1.07 for the quarter, down from their prior forecast of $1.08. Jefferies Group currently has a “Buy” rating and a $58.00 target price on the stock. Jefferies Group also issued estimates for Citigroup’s FY2018 earnings at $5.80 EPS.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The firm had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The business’s quarterly revenue was down 9.9% compared to the same quarter last year.
Several other research firms also recently issued reports on C. Nomura reaffirmed a “buy” rating and set a $55.00 price objective on shares of Citigroup in a report on Thursday, September 29th. Compass Point started coverage on Citigroup in a research note on Tuesday. They issued a “sell” rating on the stock. Drexel Hamilton reissued a “buy” rating and issued a $65.00 price target on shares of Citigroup in a research note on Monday, July 18th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 price target on the stock in a research note on Tuesday, July 5th. Finally, TheStreet raised Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $55.52.
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Shares of Citigroup (NYSE:C) traded down 1.23% on Tuesday, reaching $48.94. The company’s stock had a trading volume of 10,347,389 shares. The company has a market cap of $142.19 billion, a P/E ratio of 10.36 and a beta of 1.86. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.46. The company has a 50 day moving average price of $47.26 and a 200 day moving average price of $44.93.
In other news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total value of $360,210.70. Following the completion of the sale, the insider now directly owns 35,042 shares in the company, valued at $1,554,112.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kiltearn Partners LLP boosted its position in shares of Citigroup by 25.3% in the first quarter. Kiltearn Partners LLP now owns 4,382,011 shares of the financial services provider’s stock worth $182,949,000 after buying an additional 885,600 shares during the period. BB&T Securities LLC boosted its position in shares of Citigroup by 2.0% in the first quarter. BB&T Securities LLC now owns 93,988 shares of the financial services provider’s stock worth $3,923,000 after buying an additional 1,887 shares during the period. Investec Asset Management North America Inc. boosted its position in shares of Citigroup by 9.9% in the first quarter. Investec Asset Management North America Inc. now owns 200,464 shares of the financial services provider’s stock worth $8,369,000 after buying an additional 18,008 shares during the period. Investec Asset Management LTD boosted its position in shares of Citigroup by 0.6% in the first quarter. Investec Asset Management LTD now owns 10,649,565 shares of the financial services provider’s stock worth $444,619,000 after buying an additional 68,175 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Citigroup by 2.7% in the first quarter. Bessemer Group Inc. now owns 2,520,044 shares of the financial services provider’s stock worth $105,212,000 after buying an additional 66,159 shares during the period. 71.41% of the stock is currently owned by institutional investors and hedge funds.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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