Oppenheimer Comments on Citigroup Inc’s Q3 2019 Earnings (C)

Citigroup Inc (NYSE:C) – Analysts at Oppenheimer issued their Q3 2019 earnings per share (EPS) estimates for Citigroup in a report released on Sunday, October 14th. Oppenheimer analyst C. Kotowski forecasts that the financial services provider will earn $2.13 per share for the quarter. Oppenheimer has a “Outperformer” rating and a $91.00 price target on the stock.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.07. Citigroup had a positive return on equity of 8.78% and a negative net margin of 5.45%. The business had revenue of $18.39 billion for the quarter, compared to the consensus estimate of $18.43 billion. During the same period in the prior year, the business earned $1.42 earnings per share.

Several other equities analysts also recently weighed in on C. TheStreet upgraded Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. Wells Fargo & Co set a $100.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Monday, August 27th. Royal Bank of Canada reiterated a “buy” rating and set a $85.00 target price on shares of Citigroup in a research report on Monday, July 16th. Deutsche Bank increased their target price on Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Vining Sparks reiterated a “buy” rating and set a $77.00 target price on shares of Citigroup in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $82.91.

Shares of NYSE:C opened at $68.62 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. Citigroup has a 52-week low of $64.38 and a 52-week high of $80.70. The firm has a market capitalization of $184.38 billion, a PE ratio of 13.17, a P/E/G ratio of 0.97 and a beta of 1.46.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, November 5th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.62%. Citigroup’s dividend payout ratio is presently 33.77%.

In other Citigroup news, CEO Francisco Aristeguieta sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total transaction of $1,085,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

A number of large investors have recently made changes to their positions in C. Front Barnett Associates LLC grew its stake in shares of Citigroup by 0.5% in the second quarter. Front Barnett Associates LLC now owns 134,048 shares of the financial services provider’s stock valued at $8,970,000 after buying an additional 700 shares in the last quarter. Derby & Company Inc. grew its stake in shares of Citigroup by 6.7% in the first quarter. Derby & Company Inc. now owns 11,712 shares of the financial services provider’s stock valued at $791,000 after buying an additional 731 shares in the last quarter. Capital Analysts LLC grew its stake in shares of Citigroup by 1.4% in the second quarter. Capital Analysts LLC now owns 53,576 shares of the financial services provider’s stock valued at $3,585,000 after buying an additional 762 shares in the last quarter. Reliant Investment Management LLC grew its stake in shares of Citigroup by 1.5% in the first quarter. Reliant Investment Management LLC now owns 52,010 shares of the financial services provider’s stock valued at $3,511,000 after buying an additional 770 shares in the last quarter. Finally, IFG Advisory LLC grew its stake in shares of Citigroup by 12.4% in the second quarter. IFG Advisory LLC now owns 7,067 shares of the financial services provider’s stock valued at $472,000 after buying an additional 780 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Further Reading: Stock Split

Earnings History and Estimates for Citigroup (NYSE:C)

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