Wall Street brokerages forecast that Citigroup Inc. (NYSE:C) will announce $17.56 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Citigroup’s earnings, with estimates ranging from $17.35 billion to $17.77 billion. Citigroup posted sales of $17.01 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 17th.
On average, analysts expect that Citigroup will report full year sales of $17.56 billion for the current financial year, with estimates ranging from $70.85 billion to $72.50 billion. For the next fiscal year, analysts forecast that the firm will report sales of $74.20 billion per share, with estimates ranging from $73.03 billion to $75.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Citigroup.
Citigroup (NYSE:C) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis.
Several research firms have recently issued reports on C. Keefe, Bruyette & Woods set a $75.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Sunday, August 13th. Wells Fargo & Company reiterated a “buy” rating on shares of Citigroup in a research note on Monday, October 2nd. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Citigroup in a research note on Wednesday, September 27th. Deutsche Bank AG reiterated a “hold” rating and issued a $67.00 target price (up previously from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, Atlantic Securities restated an “overweight” rating and set a $85.00 price target (up previously from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and an average target price of $74.77.
Hedge funds and other institutional investors have recently modified their holdings of the business. Catamount Wealth Management bought a new position in shares of Citigroup in the second quarter worth approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,030 shares during the last quarter. Patten Group Inc. grew its holdings in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. grew its holdings in shares of Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 599 shares during the last quarter. Finally, Balentine LLC grew its holdings in shares of Citigroup by 20.2% in the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 272 shares during the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.
Citigroup (C) traded down $0.34 during midday trading on Tuesday, hitting $71.33. 11,812,786 shares of the stock traded hands, compared to its average volume of 16,979,174. Citigroup has a 12-month low of $54.98 and a 12-month high of $76.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $189,500.00, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.40 and a beta of 1.57.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, November 3rd. Citigroup’s payout ratio is currently 24.66%.
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Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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