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.
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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.
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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