Equities Analysts Set Expectations for Citigroup Inc’s Q2 2018 Earnings (C)

Citigroup Inc (NYSE:C) – Equities researchers at Jefferies Group raised their Q2 2018 earnings estimates for shares of Citigroup in a note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.55 per share for the quarter, up from their prior estimate of $1.54. Jefferies Group currently has a “Hold” rating and a $83.00 price target on the stock. Jefferies Group also issued estimates for Citigroup’s Q3 2018 earnings at $1.61 EPS, Q4 2018 earnings at $1.50 EPS, FY2018 earnings at $6.20 EPS and FY2019 earnings at $7.30 EPS.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. The firm had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.36%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share.

A number of other research analysts have also recently commented on the stock. Nomura set a $87.00 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. set a $80.00 price target on Citigroup and gave the stock a “buy” rating in a research note on Wednesday. Vertical Group lowered Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on Citigroup from $75.00 to $75.00 and gave the company a “market perform” rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Citigroup in a report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $79.30.

Citigroup (NYSE C) traded down $0.20 during mid-day trading on Thursday, hitting $77.27. 6,786,049 shares of the company traded hands, compared to its average volume of 16,783,809. Citigroup has a one year low of $55.23 and a one year high of $78.44. 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 capitalization of $204,330.00, a PE ratio of -26.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.56.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in Citigroup by 227.4% during the third quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock worth $700,395,000 after acquiring an additional 6,688,305 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Citigroup by 109.5% during the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock worth $621,497,000 after buying an additional 4,856,866 shares during the last quarter. PointState Capital LP purchased a new stake in Citigroup during the 2nd quarter worth about $321,322,000. Pioneer Investment Management Inc. lifted its holdings in Citigroup by 2,317.8% during the 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock worth $334,536,000 after buying an additional 4,795,145 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Citigroup by 42.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock worth $990,836,000 after buying an additional 4,413,329 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

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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.

Earnings History and Estimates for Citigroup (NYSE:C)

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