Analysts Set Expectations for Citigroup Inc.’s FY2022 Earnings (NYSE:C)

Citigroup Inc. (NYSE:CGet Rating) – Equities research analysts at Seaport Res Ptn issued their FY2022 earnings per share (EPS) estimates for shares of Citigroup in a note issued to investors on Monday, April 18th. Seaport Res Ptn analyst J. Mitchell expects that the company will earn $6.90 per share for the year. Seaport Res Ptn also issued estimates for Citigroup’s Q1 2023 earnings at $2.08 EPS.

Citigroup (NYSE:CGet Rating) last released its earnings results on Thursday, April 14th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.03). Citigroup had a net margin of 22.95% and a return on equity of 10.96%. The company had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.12 billion. During the same period last year, the firm posted $3.62 EPS. The company’s revenue was down 2.6% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Oppenheimer lowered their price target on Citigroup from $120.00 to $114.00 in a research report on Tuesday, January 18th. JPMorgan Chase & Co. lowered their price target on Citigroup from $80.50 to $76.00 and set a “neutral” rating for the company in a research report on Thursday, January 6th. Morgan Stanley lowered Citigroup from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $75.00 to $60.00 in a research report on Monday, March 28th. Barclays lowered their price target on Citigroup from $73.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 6th. Finally, Wells Fargo & Company lowered their price target on Citigroup from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Hold” and a consensus price target of $72.10.

C opened at $52.92 on Wednesday. The business has a 50 day simple moving average of $57.08 and a two-hundred day simple moving average of $62.91. The firm has a market capitalization of $104.83 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 0.64 and a beta of 1.67. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.92 and a quick ratio of 0.92. Citigroup has a one year low of $49.04 and a one year high of $80.29.

A number of institutional investors and hedge funds have recently modified their holdings of C. Syverson Strege & Co boosted its stake in Citigroup by 3,181.8% during the 3rd quarter. Syverson Strege & Co now owns 361 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares during the last quarter. Bell Investment Advisors Inc purchased a new stake in Citigroup during the 3rd quarter valued at $26,000. Disciplined Investments LLC purchased a new stake in Citigroup during the 4th quarter valued at $26,000. Benjamin Edwards Inc. bought a new position in shares of Citigroup during the 3rd quarter valued at $27,000. Finally, IMA Wealth Inc. bought a new position in shares of Citigroup during the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 72.09% of the company’s stock.

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 stock was sold at an average price of $68.56, for a total value of $1,014,688.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

The business 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 $0.51 dividend. The ex-dividend date is Friday, April 29th. This represents a $2.04 annualized dividend and a dividend yield of 3.85%. Citigroup’s payout ratio is currently 24.06%.

About Citigroup (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).

See Also

Earnings History and Estimates for Citigroup (NYSE:C)

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