Equities Analysts Offer Predictions for Citigroup Inc.’s FY2017 Earnings (C)
Citigroup Inc. (NYSE:C) – Oppenheimer Holdings raised their FY2017 earnings per share (EPS) estimates for Citigroup in a research note issued to investors on Monday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the brokerage will post earnings per share of $5.17 for the year, up from their prior forecast of $5.14. Oppenheimer Holdings has a “Outperform” rating and a $63.00 price objective on the stock.
Other equities research analysts have also issued reports about the stock. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Vetr upgraded shares of Citigroup from a “sell” rating to a “hold” rating and set a $46.20 target price on the stock in a report on Monday, September 5th. Nomura reduced their target price on shares of Citigroup from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, September 7th. Credit Agricole SA increased their target price on shares of Citigroup from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. lowered shares of Citigroup from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $52.00 to $50.00 in a report on Friday, September 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $55.39.
Citigroup (NYSE:C) opened at 48.65 on Wednesday. The stock’s 50 day moving average is $47.02 and its 200-day moving average is $44.77. The stock has a market capitalization of $141.35 billion, a price-to-earnings ratio of 10.30 and a beta of 1.86. Citigroup has a 12 month low of $34.52 and a 12 month high of $56.46.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. The business had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the sale, the insider now owns 35,042 shares in the company, valued at $1,554,112.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC raised its position in Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock valued at $111,000 after buying an additional 950 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Citigroup during the second quarter valued at approximately $116,000. RPg Family Wealth Advisory LLC raised its position in Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,426 shares in the last quarter. First Personal Financial Services raised its position in Citigroup by 160.3% in the second quarter. First Personal Financial Services now owns 3,361 shares of the financial services provider’s stock valued at $143,000 after buying an additional 2,070 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new position in Citigroup during the second quarter valued at approximately $155,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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.
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