Analysts Issue Forecasts for Citigroup Inc.’s FY2016 Earnings (C)
Citigroup Inc. (NYSE:C) – Analysts at Credit Agricole SA reduced their FY2016 earnings estimates for Citigroup in a research note issued to investors on Monday. Credit Agricole SA analyst M. Mayo now forecasts that the firm will post earnings of $4.69 per share for the year, down from their previous estimate of $4.71. Credit Agricole SA currently has a “Buy” rating and a $63.00 target price on the stock.
A number of other equities analysts also recently issued reports on C. Vetr downgraded Citigroup from a “hold” rating to a “sell” rating and set a $47.03 price target on the stock. in a research note on Tuesday, October 11th. Jefferies Group raised their price target on Citigroup from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Goldman Sachs Group Inc. downgraded Citigroup from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $50.00 in a research note on Friday, September 16th. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. Finally, Morgan Stanley upgraded Citigroup from an “equal weight” rating to an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.40.
Shares of Citigroup (NYSE:C) opened at 55.45 on Thursday. The firm has a market cap of $158.02 billion, a PE ratio of 12.06 and a beta of 1.74. The firm has a 50-day moving average price of $49.62 and a 200-day moving average price of $46.12. Citigroup has a 52 week low of $34.52 and a 52 week high of $55.98.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The firm earned $17.80 billion during the quarter, compared to analysts’ expectations of $17.32 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 13.91%.
Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Citigroup during the third quarter worth about $790,297,000. Emerald Acquisition Ltd. acquired a new position in shares of Citigroup during the second quarter worth about $500,315,000. Vanguard Group Inc. increased its position in shares of Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock worth $7,420,348,000 after buying an additional 5,872,249 shares during the last quarter. Capital Research Global Investors increased its position in shares of Citigroup by 71.5% in the third quarter. Capital Research Global Investors now owns 13,970,704 shares of the financial services provider’s stock worth $659,836,000 after buying an additional 5,824,755 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Citigroup by 38.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,929,535 shares of the financial services provider’s stock worth $760,033,000 after buying an additional 4,966,503 shares during the last quarter. 72.41% of the stock is owned by institutional investors.
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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