Citigroup Inc. (C) to Post Q3 2016 Earnings of $1.14 Per Share, Jefferies Group Forecasts
Citigroup Inc. (NYSE:C) – Equities researchers at Jefferies Group lowered their Q3 2016 earnings per share (EPS) estimates for shares of Citigroup in a research report issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the firm will earn $1.14 per share for the quarter, down from their prior forecast of $1.19. Jefferies Group currently has a “Buy” rating and a $58.00 price target on the stock. Jefferies Group also issued estimates for Citigroup’s FY2016 earnings at $4.56 EPS, Q1 2017 earnings at $1.38 EPS, Q2 2017 earnings at $1.33 EPS, Q3 2017 earnings at $1.34 EPS and Q4 2017 earnings at $1.20 EPS.
Other analysts have also issued reports about the stock. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a research report on Sunday, June 26th. Credit Suisse Group AG restated a “buy” rating on shares of Citigroup in a research report on Saturday, July 9th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 price target on the stock in a research report on Tuesday, July 5th. BMO Capital Markets restated a “buy” rating and issued a $66.00 price target (up from $63.00) on shares of Citigroup in a research report on Monday, July 18th. Finally, Argus restated a “hold” rating on shares of Citigroup in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.76.
Citigroup (NYSE:C) traded down 0.10% on Wednesday, reaching $48.94. 7,822,822 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $47.32 and its 200 day moving average price is $44.96. The firm has a market capitalization of $142.19 billion, a PE 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.
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Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The firm had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share.
Institutional investors have recently modified their holdings of the stock. City Holding Co. raised its position in Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock worth $109,000 after buying an additional 485 shares in the last quarter. Cedar Wealth Management LLC raised its position in Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Citigroup during the second quarter worth approximately $116,000. RPg Family Wealth Advisory LLC raised its position in Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,426 shares in the last quarter. Finally, First Personal Financial Services raised its position in Citigroup by 160.3% in the second quarter. First Personal Financial Services now owns 3,361 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,070 shares in the last quarter. 71.41% of the stock is currently owned by institutional investors.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction 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 owns 35,042 shares in the company, valued at $1,554,112.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by company insiders.
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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