Citigroup Inc. (NYSE:C) Expected to Announce Quarterly Sales of $17.76 Billion

Equities analysts expect Citigroup Inc. (NYSE:CGet Rating) to report $17.76 billion in sales for the current quarter, according to Zacks. Ten analysts have issued estimates for Citigroup’s earnings. The lowest sales estimate is $17.37 billion and the highest is $18.23 billion. Citigroup reported sales of $17.47 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The company is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Citigroup will report full-year sales of $72.94 billion for the current year, with estimates ranging from $71.20 billion to $73.90 billion. For the next fiscal year, analysts forecast that the business will report sales of $74.49 billion, with estimates ranging from $64.97 billion to $78.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Citigroup.

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

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods lowered Citigroup from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $81.00 to $64.00 in a report on Thursday, March 3rd. Jefferies Financial Group lowered Citigroup from a “buy” rating to a “hold” rating and cut their price target for the stock from $79.00 to $60.00 in a report on Monday, March 7th. JPMorgan Chase & Co. cut their price target on Citigroup from $80.50 to $76.00 and set a “neutral” rating on the stock in a report on Thursday, January 6th. Wells Fargo & Company cut their price target on Citigroup from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, March 14th. Finally, Barclays cut their price target on Citigroup from $73.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.10.

In related news, insider Sara Wechter sold 14,800 shares of the stock in a transaction that occurred on Friday, February 11th. The stock was sold at an average price of $68.56, for a total transaction of $1,014,688.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of C. Bell Investment Advisors Inc purchased a new stake in Citigroup in the third quarter worth $26,000. Disciplined Investments LLC purchased a new stake in Citigroup in the fourth quarter worth $26,000. Tower View Investment Management & Research LLC purchased a new stake in Citigroup in the third quarter worth $28,000. Outfitter Financial LLC purchased a new stake in Citigroup in the fourth quarter worth $30,000. Finally, FSB Premier Wealth Management Inc. purchased a new stake in Citigroup in the fourth quarter worth $31,000. 74.91% of the stock is owned by institutional investors.

Shares of Citigroup stock opened at $48.71 on Tuesday. Citigroup has a one year low of $47.78 and a one year high of $80.29. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $54.34 and its 200 day moving average is $61.51. The firm has a market cap of $96.49 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.63 and a beta of 1.67.

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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, April 29th. Citigroup’s payout ratio is 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).

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