Brokers Set Expectations for Citigroup Inc.’s Q1 2023 Earnings (NYSE:C)

Citigroup Inc. (NYSE:CGet Rating) – Analysts at Jefferies Financial Group boosted their Q1 2023 EPS estimates for shares of Citigroup in a research report issued to clients and investors on Tuesday, January 17th. Jefferies Financial Group analyst K. Usdin now forecasts that the company will post earnings of $1.73 per share for the quarter, up from their previous forecast of $1.36. The consensus estimate for Citigroup’s current full-year earnings is $6.20 per share. Jefferies Financial Group also issued estimates for Citigroup’s Q2 2023 earnings at $0.69 EPS, Q3 2023 earnings at $0.70 EPS, Q4 2023 earnings at $0.89 EPS, FY2023 earnings at $4.00 EPS, Q1 2024 earnings at $2.00 EPS, Q2 2024 earnings at $1.44 EPS and Q3 2024 earnings at $1.39 EPS.

A number of other research analysts have also issued reports on the stock. Oppenheimer reduced their target price on shares of Citigroup from $87.00 to $83.00 and set an “outperform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $49.00 to $49.50 in a report on Wednesday, November 2nd. Barclays upped their price objective on shares of Citigroup from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. The Goldman Sachs Group downgraded shares of Citigroup from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $54.00 to $47.00 in a research note on Monday, October 3rd. Finally, Credit Suisse Group set a $54.00 price objective on shares of Citigroup in a research note on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.42.

Citigroup Price Performance

NYSE:C opened at $51.09 on Thursday. The firm has a market cap of $98.95 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.56. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.49. The company’s 50-day moving average is $46.92 and its two-hundred day moving average is $47.50. Citigroup has a 12-month low of $40.01 and a 12-month high of $69.11.

Institutional Trading of Citigroup

Institutional investors and hedge funds have recently bought and sold shares of the business. Panagora Asset Management Inc. raised its stake in shares of Citigroup by 24.5% during the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after purchasing an additional 5,853 shares during the period. Zions Bancorporation N.A. raised its stake in shares of Citigroup by 50.5% during the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock valued at $334,000 after purchasing an additional 2,100 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Citigroup by 20.8% during the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after buying an additional 907 shares in the last quarter. Ergoteles LLC acquired a new stake in shares of Citigroup during the first quarter worth approximately $761,000. Finally, Halbert Hargrove Global Advisors LLC grew its position in shares of Citigroup by 7.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after buying an additional 268 shares in the last quarter. Institutional investors and hedge funds own 70.90% of the company’s stock.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Monday, February 6th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Friday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 29.14%.

About Citigroup

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

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Earnings History and Estimates for Citigroup (NYSE:C)

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