Citigroup Inc. (NYSE:C) – Investment analysts at Jefferies Group boosted their Q3 2017 EPS estimates for Citigroup in a report issued on Tuesday. Jefferies Group analyst K. Usdin now expects that the financial services provider will earn $1.37 per share for the quarter, up from their prior forecast of $1.25. Jefferies Group has a “Hold” rating and a $81.00 price objective on the stock. Jefferies Group also issued estimates for Citigroup’s Q4 2017 earnings at $1.21 EPS and FY2017 earnings at $5.20 EPS.
Several other research analysts also recently commented on the stock. Nomura lifted their target price on shares of Citigroup from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Buckingham Research reiterated a “buy” rating and issued a $81.00 target price (up previously from $70.00) on shares of Citigroup in a report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 target price on shares of Citigroup in a report on Friday, July 14th. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 target price on the stock. in a report on Monday, July 3rd. Finally, BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.17.
WARNING: “Jefferies Group Analysts Raise Earnings Estimates for Citigroup Inc. (C)” was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://sportsperspectives.com/2017/10/13/jefferies-group-analysts-raise-earnings-estimates-for-citigroup-inc-c.html. Citigroup (NYSE:C) last posted its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The company had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS.
Citigroup declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of C. Waldron LP grew its holdings in Citigroup by 21.2% during the first quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 1,276 shares during the period. Boston Partners grew its holdings in Citigroup by 16.1% during the first quarter. Boston Partners now owns 22,670,807 shares of the financial services provider’s stock valued at $1,356,168,000 after purchasing an additional 3,139,679 shares during the period. Pekin Singer Strauss Asset Management IL grew its holdings in Citigroup by 2.1% during the first quarter. Pekin Singer Strauss Asset Management IL now owns 21,532 shares of the financial services provider’s stock valued at $1,288,000 after purchasing an additional 437 shares during the period. Princeton Alpha Management LP grew its holdings in Citigroup by 87.5% during the first quarter. Princeton Alpha Management LP now owns 12,908 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 6,022 shares during the period. Finally, Terra Nova Asset Management LLC acquired a new position in Citigroup during the first quarter valued at approximately $291,000. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Citigroup Company Profile
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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