Analysts Anticipate Citigroup Inc. (NYSE:C) Will Post Quarterly Sales of $17.26 Billion

Wall Street analysts expect Citigroup Inc. (NYSE:C) to report sales of $17.26 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Citigroup’s earnings, with the lowest sales estimate coming in at $16.97 billion and the highest estimate coming in at $17.51 billion. Citigroup reported sales of $16.50 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The company is expected to report its next quarterly earnings report on Friday, January 21st.

On average, analysts expect that Citigroup will report full-year sales of $71.21 billion for the current year, with estimates ranging from $70.92 billion to $71.47 billion. For the next financial year, analysts expect that the business will post sales of $71.48 billion, with estimates ranging from $69.44 billion to $74.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Citigroup.

Citigroup (NYSE:C) last announced its earnings results on Thursday, October 14th. The company reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.23. The firm had revenue of $17.15 billion for the quarter, compared to the consensus estimate of $16.93 billion. Citigroup had a return on equity of 13.12% and a net margin of 29.23%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS.

C has been the topic of several recent research reports. Morgan Stanley lifted their target price on Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Jefferies Financial Group boosted their price objective on Citigroup from $81.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, October 11th. Finally, BMO Capital Markets boosted their price objective on Citigroup from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 15th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Citigroup currently has an average rating of “Buy” and a consensus target price of $81.15.

C traded down $0.79 during midday trading on Friday, hitting $67.28. 14,973,241 shares of the company were exchanged, compared to its average volume of 19,560,199. The firm has a market capitalization of $136.36 billion, a P/E ratio of 6.29, a P/E/G ratio of 0.49 and a beta of 1.84. Citigroup has a 1-year low of $54.99 and a 1-year high of $80.29. The firm’s 50 day moving average price is $69.79 and its 200-day moving average price is $71.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.41.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Monday, November 1st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, October 29th. Citigroup’s dividend payout ratio is currently 19.07%.

In other Citigroup news, CEO Cantu Ernesto Torres sold 27,783 shares of the business’s stock in a transaction that occurred on Tuesday, October 19th. The stock was sold at an average price of $72.50, for a total transaction of $2,014,267.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Syverson Strege & Co lifted its stake in Citigroup by 3,181.8% in the third quarter. Syverson Strege & Co now owns 361 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares during the last quarter. Bell Investment Advisors Inc purchased a new position in Citigroup in the third quarter valued at approximately $26,000. blooom inc. purchased a new position in Citigroup in the second quarter valued at approximately $27,000. Clean Yield Group lifted its stake in Citigroup by 91.5% in the third quarter. Clean Yield Group now owns 383 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Citigroup during the third quarter worth $27,000. 75.03% of the stock is owned by institutional investors.

Citigroup Company Profile

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

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Earnings History and Estimates for Citigroup (NYSE:C)

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