Research Analysts Issue Forecasts for Citigroup Inc.’s FY2016 Earnings (C)
Citigroup Inc. (NYSE:C) – Investment analysts at Jefferies Group boosted their FY2016 EPS estimates for shares of Citigroup in a research note issued to investors on Monday. Jefferies Group analyst K. Usdin now expects that the brokerage will earn $4.69 per share for the year, up from their previous estimate of $4.56. Jefferies Group has a “Buy” rating and a $58.00 price target on the stock. Jefferies Group also issued estimates for Citigroup’s Q4 2016 earnings at $1.11 EPS.
A number of other equities research analysts also recently commented on the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $63.00 price objective (down previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 6th. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price objective for the company. in a research report on Monday, June 27th. Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. Drexel Hamilton reissued a “buy” rating and set a $65.00 target price on shares of Citigroup in a research note on Monday, July 18th. Finally, Wells Fargo & Co. downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Friday, July 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.76.
Shares of Citigroup (NYSE:C) traded up 1.0845% on Wednesday, hitting $49.5213. The company’s stock had a trading volume of 9,156,434 shares. Citigroup has a 52 week low of $34.52 and a 52 week high of $56.46. The stock’s 50 day moving average price is $47.58 and its 200 day moving average price is $45.20. The stock has a market capitalization of $143.88 billion, a P/E ratio of 10.4807 and a beta of 1.86.
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Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The company had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $17.32 billion. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank N A MO raised its stake in Citigroup by 0.5% in the second quarter. UMB Bank N A MO now owns 6,721 shares of the financial services provider’s stock valued at $285,000 after buying an additional 36 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its stake in Citigroup by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,434 shares of the financial services provider’s stock valued at $230,000 after buying an additional 43 shares during the last quarter. Pitcairn Co. raised its stake in Citigroup by 0.5% in the second quarter. Pitcairn Co. now owns 10,299 shares of the financial services provider’s stock valued at $437,000 after buying an additional 53 shares during the last quarter. HM Payson & Co. raised its stake in Citigroup by 1.0% in the second quarter. HM Payson & Co. now owns 5,642 shares of the financial services provider’s stock valued at $239,000 after buying an additional 57 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its stake in Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock valued at $106,000 after buying an additional 69 shares during the last quarter. 71.26% of the stock is owned by hedge funds and other institutional investors.
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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