FY2019 Earnings Forecast for Citizens Financial Group Issued By Wedbush (CFG)

Posted by on Apr 17th, 2018 // No Comments

Citizens Financial Group (NYSE:CFG) – Wedbush lifted their FY2019 earnings estimates for Citizens Financial Group in a report issued on Monday, April 16th. Wedbush analyst P. Winter now forecasts that the bank will earn $3.84 per share for the year, up from their previous estimate of $3.81.

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Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the stock. Citigroup decreased their price objective on shares of Citizens Financial Group from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 9th. Deutsche Bank upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, April 3rd. Zacks Investment Research lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. ValuEngine upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Sanford C. Bernstein set a $52.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a report on Monday, January 22nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Citizens Financial Group presently has an average rating of “Hold” and an average price target of $42.64.

Shares of CFG opened at $42.37 on Tuesday. Citizens Financial Group has a 1-year low of $31.51 and a 1-year high of $48.23. The stock has a market cap of $20,604.10, a P/E ratio of 16.08, a P/E/G ratio of 0.71 and a beta of 1.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.96.

Several large investors have recently bought and sold shares of CFG. Dimensional Fund Advisors LP raised its holdings in shares of Citizens Financial Group by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,068,943 shares of the bank’s stock valued at $116,207,000 after purchasing an additional 130,121 shares in the last quarter. First Republic Investment Management Inc. grew its position in shares of Citizens Financial Group by 23.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 7,649 shares of the bank’s stock worth $290,000 after buying an additional 1,458 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Citizens Financial Group by 25.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,940 shares of the bank’s stock worth $564,000 after buying an additional 3,058 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of Citizens Financial Group by 10.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 42,357 shares of the bank’s stock worth $1,604,000 after buying an additional 3,874 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Citizens Financial Group in the 3rd quarter worth approximately $519,000. Institutional investors and hedge funds own 97.12% of the company’s stock.

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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 provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

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