Zacks: Brokerages Expect Citigroup Inc. (C) Will Announce Quarterly Sales of $17.56 Billion
Analysts predict that Citigroup Inc. (NYSE:C) will post sales of $17.56 billion for the current quarter, Zacks reports. Three analysts have made estimates for Citigroup’s earnings. The highest sales estimate is $17.77 billion and the lowest is $17.35 billion. Citigroup posted sales of $17.01 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The business is scheduled to announce its next quarterly earnings report on Wednesday, January 17th.
According to Zacks, analysts expect that Citigroup will report full year sales of $17.56 billion for the current year, with estimates ranging from $70.85 billion to $72.50 billion. For the next year, analysts forecast that the firm will report sales of $74.20 billion per share, with estimates ranging from $73.03 billion to $75.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Citigroup.
Citigroup (NYSE:C) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The company had revenue of $18.17 billion during the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Shares of Citigroup (NYSE:C) traded up $0.01 on Friday, hitting $75.51. 18,238,174 shares of the stock traded hands, compared to its average volume of 13,263,943. Citigroup has a 52 week low of $55.23 and a 52 week high of $76.89. The firm has a market capitalization of $199,622.14, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 24.66%.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after buying an additional 189,447,104 shares during the period. FMR LLC raised its holdings in Citigroup by 18.2% during the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after buying an additional 16,257,931 shares during the period. Janus Henderson Group PLC raised its holdings in Citigroup by 227.4% during the 3rd quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock worth $700,395,000 after buying an additional 6,688,305 shares during the period. Lazard Asset Management LLC raised its holdings in Citigroup by 109.5% during the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock worth $621,497,000 after buying an additional 4,856,866 shares during the period. Finally, PointState Capital LP acquired a new stake in Citigroup during the 2nd quarter worth about $321,322,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
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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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