Equities research analysts forecast that Citigroup Inc (NYSE:C) will report sales of $18.31 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Citigroup’s earnings, with estimates ranging from $18.01 billion to $18.56 billion. Citigroup reported sales of $18.47 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.9%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, July 15th.
According to Zacks, analysts expect that Citigroup will report full year sales of $73.78 billion for the current fiscal year, with estimates ranging from $72.83 billion to $74.59 billion. For the next fiscal year, analysts expect that the firm will post sales of $76.60 billion, with estimates ranging from $75.16 billion to $77.88 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Citigroup.
Citigroup (NYSE:C) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The firm had revenue of $18.58 billion during the quarter, compared to analysts’ expectations of $18.56 billion. During the same quarter last year, the company posted $1.68 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis.
Several equities research analysts recently commented on the stock. Bank of America set a $77.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets lifted their price objective on shares of Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Wells Fargo & Co set a $90.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Goldman Sachs Group upgraded shares of UCB S A/ADR from a “neutral” rating to a “buy” rating in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.18.
C stock traded up $0.16 during midday trading on Friday, hitting $71.77. The company’s stock had a trading volume of 15,075,255 shares, compared to its average volume of 15,054,608. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. Citigroup has a 52-week low of $48.42 and a 52-week high of $75.24. The company has a market cap of $165.60 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 0.78 and a beta of 1.74. The firm has a 50-day moving average of $67.50.
In related news, CEO Stephen Bird sold 30,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total transaction of $2,079,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in shares of Citigroup by 4.5% in the 2nd quarter. CENTRAL TRUST Co now owns 30,624 shares of the financial services provider’s stock valued at $2,193,000 after purchasing an additional 1,314 shares during the last quarter. Diversified Trust Co raised its position in shares of Citigroup by 0.4% in the 2nd quarter. Diversified Trust Co now owns 56,723 shares of the financial services provider’s stock valued at $3,972,000 after acquiring an additional 212 shares during the period. Nexus Investment Management Inc. raised its position in shares of Citigroup by 3.5% in the 2nd quarter. Nexus Investment Management Inc. now owns 402,210 shares of the financial services provider’s stock valued at $28,167,000 after acquiring an additional 13,455 shares during the period. Hudson Capital Management LLC raised its position in shares of Citigroup by 11.9% in the 2nd quarter. Hudson Capital Management LLC now owns 24,099 shares of the financial services provider’s stock valued at $1,688,000 after acquiring an additional 2,572 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its position in shares of Citigroup by 36.1% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 344,377 shares of the financial services provider’s stock valued at $24,118,000 after acquiring an additional 91,371 shares during the period. Institutional investors own 75.99% of the company’s stock.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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