Citigroup Inc. (C) Set to Announce Quarterly Earnings on Thursday
Citigroup Inc. (NYSE:C) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 12th. Analysts expect the company to announce earnings of $1.28 per share for the quarter.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm posted $1.24 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, analysts expect Citigroup to post $5.20 EPS for the current fiscal year and $5.95 EPS for the next fiscal year.
Shares of Citigroup Inc. (NYSE:C) opened at 74.06 on Thursday. The firm has a 50 day moving average price of $69.29 and a 200 day moving average price of $64.57. The stock has a market cap of $201.78 billion, a PE ratio of 14.83 and a beta of 1.45. Citigroup Inc. has a 12-month low of $47.54 and a 12-month high of $74.74.
Citigroup declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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A number of equities analysts have recently weighed in on the company. UBS AG raised Citigroup from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $58.00 to $64.00 in a research note on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 price objective on Citigroup and gave the stock a “buy” rating in a research note on Sunday, August 13th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Citigroup in a research note on Wednesday, September 27th. Finally, Atlantic Securities reaffirmed an “overweight” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.43.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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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