Equities Analysts Decrease Earnings Estimates for Citigroup Inc (C)

Equities Analysts Decrease Earnings Estimates for Citigroup Inc (C)

Citigroup Inc (NYSE:C) – Stock analysts at Jefferies Financial Group lowered their Q2 2019 earnings per share (EPS) estimates for shares of Citigroup in a research note issued to investors on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $1.86 for the quarter, down from their prior estimate of $1.92. Jefferies Financial Group also issued estimates for Citigroup’s Q3 2019 earnings at $1.94 EPS, Q4 2019 earnings at $1.86 EPS and FY2020 earnings at $8.70 EPS.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. The business had revenue of $18.39 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a positive return on equity of 9.42% and a negative net margin of 4.81%. During the same period in the previous year, the company posted $1.42 earnings per share.

C has been the subject of several other reports. Barclays cut their price target on Citigroup from $93.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. Wells Fargo & Co downgraded shares of Citigroup to a “buy” rating in a research report on Friday, January 4th. Zacks Investment Research downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, November 27th. Credit Suisse Group lowered their price objective on shares of Citigroup from $88.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, December 7th. Finally, Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective for the company in a research report on Wednesday, December 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $79.52.

Shares of C stock opened at $56.69 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $144.90 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.66 and a beta of 1.56. Citigroup has a 1 year low of $48.42 and a 1 year high of $80.70.

Several large investors have recently made changes to their positions in C. Northeast Financial Consultants Inc acquired a new stake in Citigroup in the third quarter valued at $545,000. Capital Investment Advisors LLC increased its holdings in Citigroup by 1.2% in the third quarter. Capital Investment Advisors LLC now owns 77,287 shares of the financial services provider’s stock valued at $5,545,000 after purchasing an additional 939 shares during the period. ValueAct Holdings L.P. increased its holdings in Citigroup by 4.2% in the third quarter. ValueAct Holdings L.P. now owns 26,225,500 shares of the financial services provider’s stock valued at $1,881,417,000 after purchasing an additional 1,050,000 shares during the period. CapWealth Advisors LLC increased its holdings in Citigroup by 4.6% in the second quarter. CapWealth Advisors LLC now owns 294,351 shares of the financial services provider’s stock valued at $19,698,000 after purchasing an additional 12,868 shares during the period. Finally, Rampart Investment Management Company LLC increased its holdings in Citigroup by 56.0% in the third quarter. Rampart Investment Management Company LLC now owns 68,862 shares of the financial services provider’s stock valued at $1,832,768,000 after purchasing an additional 24,716 shares during the period. Institutional investors own 72.67% of the company’s stock.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

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