Brokers Issue Forecasts for Citigroup Inc.’s FY2017 Earnings (C)

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.

TRADEMARK VIOLATION WARNING: “Brokers Issue Forecasts for Citigroup Inc.’s FY2017 Earnings (C)” was originally published by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.truebluetribune.com/2017/10/13/brokers-issue-forecasts-for-citigroup-inc-s-fy2017-earnings-c.html.

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.

About Citigroup

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.

Earnings History and Estimates for Citigroup (NYSE:C)

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

Latest News

Leave a Reply