Citigroup Inc. (NYSE:C) Expected to Announce Earnings of $1.66 Per Share

Wall Street brokerages expect Citigroup Inc. (NYSE:CGet Rating) to post earnings per share (EPS) of $1.66 for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Citigroup’s earnings, with the highest EPS estimate coming in at $2.04 and the lowest estimate coming in at $1.23. Citigroup posted earnings per share of $2.84 during the same quarter last year, which would indicate a negative year-over-year growth rate of 41.5%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Citigroup will report full-year earnings of $6.92 per share for the current financial year, with EPS estimates ranging from $5.99 to $7.75. For the next financial year, analysts expect that the company will post earnings of $7.62 per share, with EPS estimates ranging from $5.81 to $8.93. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Citigroup.

Citigroup (NYSE:CGet Rating) last issued its earnings results on Thursday, April 14th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.47. The firm had revenue of $19.16 billion for the quarter, compared to analyst estimates of $18.12 billion. Citigroup had a net margin of 22.95% and a return on equity of 10.96%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $3.62 earnings per share.

Several research firms have weighed in on C. BMO Capital Markets decreased their price target on shares of Citigroup from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. StockNews.com assumed coverage on shares of Citigroup in a report on Thursday, March 31st. They set a “hold” rating on the stock. Atlantic Securities cut shares of Citigroup from an “overweight” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Thursday, March 3rd. Piper Sandler dropped their target price on shares of Citigroup from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. Finally, Keefe, Bruyette & Woods cut shares of Citigroup from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $81.00 to $64.00 in a research note on Thursday, March 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Citigroup has an average rating of “Hold” and a consensus target price of $70.48.

In related news, insider Sara Wechter sold 14,800 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $68.56, for a total transaction of $1,014,688.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Citigroup in the 4th quarter worth $889,483,000. Nordea Investment Management AB increased its stake in shares of Citigroup by 102.4% in the 3rd quarter. Nordea Investment Management AB now owns 16,135,692 shares of the company’s stock worth $1,148,538,000 after acquiring an additional 8,162,948 shares in the last quarter. Cibc World Markets Corp increased its stake in shares of Citigroup by 204.6% in the 4th quarter. Cibc World Markets Corp now owns 7,991,436 shares of the company’s stock worth $482,603,000 after acquiring an additional 5,368,050 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Citigroup in the 4th quarter worth about $282,258,000. Finally, Greenhaven Associates Inc. bought a new stake in Citigroup during the 4th quarter valued at about $273,394,000. 74.91% of the stock is currently owned by institutional investors and hedge funds.

C stock traded up $2.13 during midday trading on Friday, hitting $52.23. The stock had a trading volume of 26,463,356 shares, compared to its average volume of 27,364,852. The firm has a market cap of $103.46 billion, a P/E ratio of 6.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.61. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. Citigroup has a 1-year low of $47.78 and a 1-year high of $80.29. The business has a fifty day moving average price of $53.91 and a two-hundred day moving average price of $61.37.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Monday, May 2nd will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, April 29th. Citigroup’s payout ratio is currently 24.06%.

Citigroup Company Profile (Get Rating)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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