Brokerages Anticipate Citizens Financial Group, Inc. (NYSE:CFG) Will Announce Quarterly Sales of $1.93 Billion

Wall Street brokerages predict that Citizens Financial Group, Inc. (NYSE:CFGGet Rating) will announce $1.93 billion in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Citizens Financial Group’s earnings, with the lowest sales estimate coming in at $1.79 billion and the highest estimate coming in at $2.01 billion. Citizens Financial Group reported sales of $1.61 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.9%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Citizens Financial Group will report full-year sales of $7.81 billion for the current fiscal year, with estimates ranging from $7.57 billion to $7.99 billion. For the next year, analysts forecast that the firm will report sales of $8.68 billion, with estimates ranging from $7.73 billion to $9.10 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Citizens Financial Group.

Citizens Financial Group (NYSE:CFGGet Rating) last issued its quarterly earnings data on Tuesday, April 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Citizens Financial Group had a net margin of 30.67% and a return on equity of 10.69%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year.

CFG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods downgraded shares of Citizens Financial Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $64.00 to $54.00 in a report on Tuesday, April 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Citizens Financial Group in a report on Thursday, April 21st. Morgan Stanley dropped their target price on shares of Citizens Financial Group from $69.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, March 28th. UBS Group raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $48.00 to $54.00 in a report on Monday, May 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Citizens Financial Group from $56.50 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, February 3rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Hold” and an average target price of $56.60.

In other Citizens Financial Group news, Director Terrance Lillis bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The shares were purchased at an average cost of $41.31 per share, for a total transaction of $41,310.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $82,620. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CFG. Raleigh Capital Management Inc. purchased a new stake in shares of Citizens Financial Group during the 1st quarter valued at about $31,000. Kings Point Capital Management purchased a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $33,000. Carolinas Wealth Consulting LLC lifted its stake in Citizens Financial Group by 37.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 772 shares of the bank’s stock worth $36,000 after purchasing an additional 210 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in Citizens Financial Group in the fourth quarter worth about $37,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Shares of CFG stock opened at $38.71 on Wednesday. Citizens Financial Group has a 1 year low of $36.76 and a 1 year high of $57.00. The firm has a fifty day moving average price of $42.42 and a 200-day moving average price of $47.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 8.20 and a beta of 1.44.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 17th. Shareholders of record on Tuesday, May 3rd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, May 2nd. Citizens Financial Group’s dividend payout ratio (DPR) is presently 33.05%.

About Citizens Financial Group (Get Rating)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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