Zacks: Brokerages Expect Citizens Financial Group Inc (CFG) to Post $0.87 Earnings Per Share

Wall Street brokerages expect Citizens Financial Group Inc (NYSE:CFG) to post $0.87 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have issued estimates for Citizens Financial Group’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.90. Citizens Financial Group posted earnings per share of $0.78 in the same quarter last year, which would indicate a positive year over year growth rate of 11.5%. The business is expected to issue its next earnings results on Friday, January 18th.

According to Zacks, analysts expect that Citizens Financial Group will report full year earnings of $3.84 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.92. For the next financial year, analysts forecast that the business will report earnings of $4.14 per share, with EPS estimates ranging from $3.90 to $4.30. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Citizens Financial Group.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 18th. The bank reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. Citizens Financial Group’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS.

Several brokerages have weighed in on CFG. ValuEngine downgraded Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Macquarie upgraded Citizens Financial Group from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a report on Monday, October 22nd. Bank of America upgraded Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, October 22nd. Finally, BMO Capital Markets cut their price target on Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. Citizens Financial Group has a consensus rating of “Buy” and a consensus target price of $41.46.

CFG traded up $1.53 during trading on Friday, hitting $35.43. The company’s stock had a trading volume of 9,676,272 shares, compared to its average volume of 5,302,783. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 1.00. The company has a market capitalization of $15.86 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.37. Citizens Financial Group has a twelve month low of $27.62 and a twelve month high of $48.23.

In other news, Director Shivan S. Subramaniam acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, November 21st. The stock was acquired at an average cost of $35.32 per share, for a total transaction of $105,960.00. Following the acquisition, the director now directly owns 38,963 shares in the company, valued at approximately $1,376,173.16. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles John Koch acquired 14,000 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The shares were purchased at an average price of $36.32 per share, with a total value of $508,480.00. Following the completion of the acquisition, the director now owns 49,937 shares in the company, valued at $1,813,711.84. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BB&T Securities LLC boosted its stake in shares of Citizens Financial Group by 203.1% during the second quarter. BB&T Securities LLC now owns 17,953 shares of the bank’s stock valued at $698,000 after purchasing an additional 12,029 shares during the period. Raymond James & Associates boosted its stake in shares of Citizens Financial Group by 2.3% during the second quarter. Raymond James & Associates now owns 219,653 shares of the bank’s stock valued at $8,545,000 after purchasing an additional 4,950 shares during the period. Morgan Stanley boosted its stake in shares of Citizens Financial Group by 17.4% during the second quarter. Morgan Stanley now owns 2,277,234 shares of the bank’s stock valued at $88,584,000 after purchasing an additional 337,064 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $370,000. Finally, California Public Employees Retirement System boosted its stake in shares of Citizens Financial Group by 0.7% during the second quarter. California Public Employees Retirement System now owns 1,367,017 shares of the bank’s stock valued at $53,177,000 after purchasing an additional 10,048 shares during the period. Institutional investors and hedge funds own 96.04% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

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