Equities analysts expect Citizens Financial Group Inc (NYSE:CFG) to announce sales of $1.62 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Citizens Financial Group’s earnings, with estimates ranging from $1.61 billion to $1.63 billion. Citizens Financial Group posted sales of $1.51 billion in the same quarter last year, which would indicate a positive year over year growth rate of 7.3%. The business is expected to announce its next earnings results on Friday, July 19th.
According to Zacks, analysts expect that Citizens Financial Group will report full year sales of $6.53 billion for the current fiscal year, with estimates ranging from $6.49 billion to $6.59 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.77 billion, with estimates ranging from $6.68 billion to $6.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Citizens Financial Group.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. During the same period in the prior year, the firm posted $0.78 EPS.
A number of brokerages recently issued reports on CFG. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, January 31st. Wedbush set a $39.00 target price on Citizens Financial Group and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, ValuEngine cut Citizens Financial Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $41.36.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Citizens Financial Group by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock worth $655,180,000 after acquiring an additional 2,189,838 shares during the period. Legal & General Group Plc lifted its position in Citizens Financial Group by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 2,372,864 shares of the bank’s stock worth $91,532,000 after acquiring an additional 85,926 shares during the period. Morgan Stanley lifted its position in Citizens Financial Group by 28.6% during the 3rd quarter. Morgan Stanley now owns 2,927,578 shares of the bank’s stock worth $112,917,000 after acquiring an additional 650,344 shares during the period. Federated Investors Inc. PA lifted its position in Citizens Financial Group by 2.3% during the 3rd quarter. Federated Investors Inc. PA now owns 704,221 shares of the bank’s stock worth $27,162,000 after acquiring an additional 16,082 shares during the period. Finally, Hennessy Advisors Inc. lifted its position in Citizens Financial Group by 123.8% during the 4th quarter. Hennessy Advisors Inc. now owns 47,000 shares of the bank’s stock worth $1,397,000 after acquiring an additional 26,000 shares during the period. 98.90% of the stock is owned by hedge funds and other institutional investors.
NYSE:CFG opened at $34.21 on Thursday. The stock has a market cap of $16.00 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.45. Citizens Financial Group has a 1 year low of $27.62 and a 1 year high of $42.87. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.57.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.74%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 35.96%.
About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
Recommended Story: Conference Calls
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.