Wall Street analysts predict that Citigroup Inc (NYSE:C) will announce sales of $18.80 billion for the current quarter, according to Zacks. Three analysts have made estimates for Citigroup’s earnings, with the highest sales estimate coming in at $19.46 billion and the lowest estimate coming in at $18.29 billion. Citigroup posted sales of $18.87 billion in the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The company is expected to issue its next earnings results before the market opens on Monday, April 15th.
On average, analysts expect that Citigroup will report full-year sales of $74.39 billion for the current financial year, with estimates ranging from $73.56 billion to $75.40 billion. For the next fiscal year, analysts forecast that the business will report sales of $77.25 billion, with estimates ranging from $75.92 billion to $78.73 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Citigroup.
Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, January 14th. The financial services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. Citigroup had a net margin of 18.58% and a return on equity of 9.93%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.57 billion. During the same period in the prior year, the company earned $1.28 EPS. The firm’s revenue was down 2.3% on a year-over-year basis.
A number of brokerages have commented on C. Zacks Investment Research lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Friday, December 7th. Credit Suisse Group reiterated an “outperform” rating and issued a $80.00 price objective on shares of Citigroup in a report on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $77.80.
In other news, insider Michael Whitaker sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total value of $442,680.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider W. Bradford Hu sold 5,420 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its position in Citigroup by 5.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 306,989 shares of the financial services provider’s stock worth $22,023,000 after purchasing an additional 15,774 shares during the last quarter. Princeton Portfolio Strategies Group LLC grew its position in Citigroup by 7.7% in the 3rd quarter. Princeton Portfolio Strategies Group LLC now owns 13,332 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 950 shares during the last quarter. Fagan Associates Inc. grew its position in Citigroup by 5.8% in the 3rd quarter. Fagan Associates Inc. now owns 46,761 shares of the financial services provider’s stock worth $3,355,000 after purchasing an additional 2,556 shares during the last quarter. LSV Asset Management grew its position in Citigroup by 0.6% in the 3rd quarter. LSV Asset Management now owns 13,721,321 shares of the financial services provider’s stock worth $984,367,000 after purchasing an additional 86,466 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Citigroup by 120.7% in the 3rd quarter. SG Americas Securities LLC now owns 395,418 shares of the financial services provider’s stock worth $28,367,000 after purchasing an additional 2,301,918 shares during the last quarter. Institutional investors and hedge funds own 70.27% of the company’s stock.
Citigroup stock traded down $1.33 during trading on Wednesday, reaching $64.30. 17,485,995 shares of the company’s stock were exchanged, compared to its average volume of 17,352,420. Citigroup has a 52-week low of $48.42 and a 52-week high of $75.24. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.30. The stock has a market cap of $167.70 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.83 and a beta of 1.68.
The business also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Stockholders of record on Monday, February 4th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.80%. Citigroup’s dividend payout ratio (DPR) is presently 27.07%.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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