Citigroup Inc. (NYSE:C) – Stock analysts at Jefferies Group cut their FY2017 EPS estimates for Citigroup in a report released on Monday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will earn $5.08 per share for the year, down from their previous estimate of $5.25. Jefferies Group currently has a “Neutral” rating and a $81.00 target price on the stock. Jefferies Group also issued estimates for Citigroup’s Q1 2018 earnings at $1.48 EPS, Q2 2018 earnings at $1.46 EPS, Q3 2018 earnings at $1.45 EPS and Q4 2018 earnings at $1.35 EPS.
Citigroup (NYSE:C) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS.
Other equities analysts have also issued research reports about the stock. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price objective on the stock. in a report on Monday, July 3rd. BMO Capital Markets reiterated a “hold” rating and set a $67.00 price objective (up previously from $65.00) on shares of Citigroup in a report on Friday. Royal Bank Of Canada upped their price objective on shares of Citigroup from $75.00 to $79.00 and gave the company an “outperform” rating in a report on Friday. HSBC Holdings plc set a $74.00 price objective on shares of Citigroup and gave the company a “hold” rating in a report on Friday, August 11th. Finally, Societe Generale upgraded shares of Citigroup from a “sell” rating to a “hold” rating and upped their price objective for the company from $63.00 to $70.00 in a report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Citigroup currently has a consensus rating of “Buy” and an average price target of $74.45.
Citigroup (NYSE:C) opened at 71.00 on Wednesday. Citigroup has a 12-month low of $47.70 and a 12-month high of $76.14. The company has a market cap of $193.44 billion, a PE ratio of 14.21 and a beta of 1.45. The firm’s 50-day moving average price is $70.67 and its 200-day moving average price is $65.24.
Citigroup declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. grew its position in shares of Citigroup by 0.3% during the 1st quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 25 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Citigroup by 0.8% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 40 shares during the period. Leisure Capital Management grew its position in shares of Citigroup by 1.6% during the 2nd quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 59 shares during the period. Regal Investment Advisors LLC grew its position in shares of Citigroup by 2.0% during the 1st quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 74 shares during the period. Finally, Halbert Hargrove Russell LLC grew its position in shares of Citigroup by 1.6% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 74 shares during the period. 75.37% of the stock is owned by hedge funds and other institutional investors.
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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