Citigroup Inc (C) Expected to Post Quarterly Sales of $18.59 Billion

Wall Street brokerages expect Citigroup Inc (NYSE:C) to announce sales of $18.59 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Citigroup’s earnings, with the lowest sales estimate coming in at $18.36 billion and the highest estimate coming in at $18.99 billion. Citigroup posted sales of $18.12 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The business is expected to report its next earnings report on Thursday, April 12th.

On average, analysts expect that Citigroup will report full-year sales of $18.59 billion for the current financial year, with estimates ranging from $72.41 billion to $75.18 billion. For the next year, analysts expect that the company will post sales of $77.25 billion per share, with estimates ranging from $75.61 billion to $79.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Citigroup.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis.

A number of brokerages have recently commented on C. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Deutsche Bank set a $74.00 price target on Citigroup and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Raymond James Financial began coverage on Citigroup in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Morgan Stanley upped their price target on Citigroup from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Finally, Wells Fargo & Co set a $100.00 price target on Citigroup and gave the company a “buy” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $79.44.

Citigroup (C) opened at $74.99 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.01 and a quick ratio of 1.01. Citigroup has a 1 year low of $56.14 and a 1 year high of $80.70. The firm has a market capitalization of $198,270.00, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.54.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, February 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.71%. Citigroup’s dividend payout ratio (DPR) is 23.06%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Catamount Wealth Management bought a new position in Citigroup in the 2nd quarter worth about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Citigroup by 206.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,030 shares during the last quarter. Balentine LLC increased its stake in Citigroup by 20.2% in the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 272 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Citigroup by 21.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 300 shares during the last quarter. Finally, Sawyer & Company Inc bought a new position in Citigroup in the 4th quarter worth about $117,000. 80.94% of the stock is currently owned by institutional investors and hedge funds.

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Citigroup Company Profile

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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Earnings History and Estimates for Citigroup (NYSE:C)

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