Citizens Financial Group, Inc. to Post Q1 2018 Earnings of $0.62 Per Share, Jefferies Group Forecasts (CFG)
Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at Jefferies Group issued their Q1 2018 EPS estimates for shares of Citizens Financial Group in a research report issued on Tuesday. Jefferies Group analyst K. Usdin expects that the bank will post earnings of $0.62 per share for the quarter. Jefferies Group also issued estimates for Citizens Financial Group’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.68 EPS and Q4 2018 earnings at $0.73 EPS.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS.
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CFG has been the subject of several other reports. BidaskClub raised Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. TheStreet raised Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Citigroup Inc. reaffirmed a “neutral” rating and set a $42.00 target price (up from $38.00) on shares of Citizens Financial Group in a research note on Monday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $39.00 target price (up from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Citizens Financial Group presently has an average rating of “Hold” and an average price target of $37.12.
Citizens Financial Group (CFG) traded down 1.35% during trading on Wednesday, hitting $37.30. The stock had a trading volume of 523,708 shares. The firm has a market cap of $18.68 billion, a price-to-earnings ratio of 15.93 and a beta of 1.37. Citizens Financial Group has a one year low of $24.22 and a one year high of $39.75. The stock’s 50-day moving average is $35.15 and its 200 day moving average is $35.30.
Citizens Financial Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $850.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sun Life Financial INC raised its stake in Citizens Financial Group by 41,266.7% in the 2nd quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock valued at $133,000 after purchasing an additional 3,714 shares during the last quarter. Smithfield Trust Co. raised its stake in Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after purchasing an additional 70 shares during the last quarter. Colony Group LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at $210,000. Courier Capital LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at $214,000. Finally, Eagle Global Advisors LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at $215,000. 96.76% of the stock is owned by hedge funds and other institutional investors.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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