Brokerages Expect Citigroup Inc (NYSE:C) to Announce $1.86 EPS

Brokerages expect Citigroup Inc (NYSE:C) to report earnings per share (EPS) of $1.86 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Citigroup’s earnings, with the lowest EPS estimate coming in at $1.79 and the highest estimate coming in at $1.91. Citigroup reported earnings of $1.62 per share in the same quarter last year, which would indicate a positive year over year growth rate of 14.8%. The company is expected to issue its next quarterly earnings report on Friday, July 12th.

According to Zacks, analysts expect that Citigroup will report full year earnings of $7.60 per share for the current fiscal year, with EPS estimates ranging from $7.50 to $7.80. For the next year, analysts forecast that the business will report earnings of $8.68 per share, with EPS estimates ranging from $8.25 to $9.00. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Citigroup.

Citigroup (NYSE:C) last announced its earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. The business had revenue of $18.58 billion for the quarter, compared to analysts’ expectations of $18.56 billion. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS.

A number of analysts have recently weighed in on C shares. Jefferies Financial Group raised Citigroup from a “hold” rating to a “buy” rating and raised their price objective for the stock from $64.00 to $73.00 in a research report on Friday, February 22nd. Zacks Investment Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Monday, March 18th. Oppenheimer lifted their price target on Citigroup from $94.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Odeon Capital Group started coverage on Citigroup in a report on Wednesday, March 27th. They issued a “hold” rating on the stock. Finally, HSBC set a $76.00 target price on Citigroup and gave the stock a “buy” rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $79.39.

In other Citigroup news, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. HighPoint Advisor Group LLC raised its stake in shares of Citigroup by 24.5% in the 4th quarter. HighPoint Advisor Group LLC now owns 7,878 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 1,552 shares during the period. Front Barnett Associates LLC increased its stake in Citigroup by 0.4% during the 1st quarter. Front Barnett Associates LLC now owns 134,044 shares of the financial services provider’s stock worth $8,340,000 after buying an additional 551 shares during the period. Family Legacy Inc. increased its stake in Citigroup by 341.8% during the 4th quarter. Family Legacy Inc. now owns 1,542 shares of the financial services provider’s stock worth $80,000 after buying an additional 1,193 shares during the period. MUFG Securities EMEA plc purchased a new stake in Citigroup during the 4th quarter worth $29,160,000. Finally, RWC Asset Management LLP increased its stake in Citigroup by 13.4% during the 4th quarter. RWC Asset Management LLP now owns 420,019 shares of the financial services provider’s stock worth $21,866,000 after buying an additional 49,563 shares during the period. Institutional investors own 76.08% of the company’s stock.

Shares of NYSE C opened at $66.81 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The firm has a market cap of $156.97 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 0.73 and a beta of 1.72. Citigroup has a 12-month low of $48.42 and a 12-month high of $75.24.

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.69%. Citigroup’s dividend payout ratio (DPR) is presently 27.07%.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Read More: What is Put Option Volume?

Get a free copy of the Zacks research report on Citigroup (C)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Citigroup (NYSE:C)

Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.