FY2017 EPS Estimates for Citigroup Inc. (C) Reduced by Analyst

Citigroup Inc. (NYSE:C) – Equities research analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of Citigroup in a research note issued to investors on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will earn $5.08 per share for the year, down from their previous forecast of $5.25. Jefferies Group has a “Hold” rating and a $68.00 price objective 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.

C has been the topic of several other research reports. Atlantic Securities reaffirmed an “overweight” rating and set a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 price objective on shares of Citigroup in a report on Friday, October 6th. Finally, Buckingham Research reaffirmed a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Citigroup in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Citigroup has a consensus rating of “Buy” and an average price target of $72.08.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://sportsperspectives.com/2017/10/11/fy2017-eps-estimates-for-citigroup-inc-c-reduced-by-analyst.html.

Shares of Citigroup (C) opened at 75.18 on Wednesday. The company has a market cap of $204.83 billion, a P/E ratio of 15.05 and a beta of 1.45. Citigroup has a 52 week low of $47.54 and a 52 week high of $76.02. The firm’s 50-day moving average price is $70.29 and its 200 day moving average price is $65.12.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Endurance Wealth Management Inc. grew its holdings in Citigroup by 0.3% during the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 25 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in Citigroup by 0.8% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 40 shares during the period. Leisure Capital Management grew its holdings in Citigroup by 1.6% during the second quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 59 shares during the period. Regal Investment Advisors LLC grew its holdings in Citigroup by 2.0% during the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 74 shares during the period. Finally, Halbert Hargrove Russell LLC grew its holdings in Citigroup by 1.6% during the second quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 74 shares during the period. Institutional investors own 75.37% of the company’s stock.

In other news, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now owns 77,570 shares in the company, valued at approximately $5,239,853.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the firm’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 transaction, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Citigroup declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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