Jefferies Group Analysts Lower Earnings Estimates for Citigroup Inc. (C)
Citigroup Inc. (NYSE:C) – Jefferies Group decreased their Q3 2016 EPS estimates for shares of Citigroup in a research note issued to investors on Monday. Jefferies Group analyst K. Usdin now expects that the firm will post earnings per share of $1.14 for the quarter, down from their previous estimate of $1.19. Jefferies Group currently has a “Buy” rating and a $58.00 price target on the stock. Jefferies Group also issued estimates for Citigroup’s FY2016 earnings at $4.56 EPS, Q1 2017 earnings at $1.38 EPS, Q2 2017 earnings at $1.33 EPS, Q3 2017 earnings at $1.34 EPS and Q4 2017 earnings at $1.20 EPS.
C has been the subject of several other reports. Credit Agricole SA increased their price objective on Citigroup from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. Nomura reduced their price objective on Citigroup from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 7th. Goldman Sachs Group Inc. downgraded Citigroup from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $50.00 in a research note on Friday, September 16th. TheStreet raised Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Finally, Vetr downgraded Citigroup from a “hold” rating to a “sell” rating and set a $45.31 price objective for the company. in a research note on Wednesday, September 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $54.76.
Shares of Citigroup (NYSE:C) opened at 48.47 on Wednesday. The company has a 50 day moving average price of $47.43 and a 200 day moving average price of $45.01. Citigroup has a 12-month low of $34.52 and a 12-month high of $56.46. The company has a market capitalization of $140.82 billion, a P/E ratio of 10.26 and a beta of 1.86.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in C. Private Trust Co. NA bought a new position in shares of Citigroup during the third quarter valued at $232,000. Murphy Pohlad Asset Management LLC increased its position in shares of Citigroup by 5.5% in the third quarter. Murphy Pohlad Asset Management LLC now owns 40,460 shares of the financial services provider’s stock valued at $1,910,000 after buying an additional 2,095 shares during the period. Private Bank & Trust Co. increased its position in shares of Citigroup by 13.4% in the third quarter. Private Bank & Trust Co. now owns 8,614 shares of the financial services provider’s stock valued at $407,000 after buying an additional 1,020 shares during the period. Highland Capital Management LLC increased its position in shares of Citigroup by 9.8% in the third quarter. Highland Capital Management LLC now owns 232,792 shares of the financial services provider’s stock valued at $10,995,000 after buying an additional 20,705 shares during the period. Finally, First PREMIER Bank increased its position in shares of Citigroup by 2.1% in the third quarter. First PREMIER Bank now owns 17,103 shares of the financial services provider’s stock valued at $808,000 after buying an additional 359 shares during the period. 71.41% of the stock is currently owned by institutional investors.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total transaction of $360,210.70. Following the transaction, the insider now owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.
Citigroup Company Profile
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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