Citigroup Inc. (C) Set to Announce Quarterly Earnings on Thursday

Citigroup Inc. (NYSE:C) is set to announce its earnings results before the market opens on Thursday, October 12th. Analysts expect the company to announce earnings of $1.28 per share for the quarter.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. On average, analysts expect Citigroup to post $5.20 EPS for the current fiscal year and $5.94 EPS for the next fiscal year.

Shares of Citigroup Inc. (NYSE C) opened at 75.18 on Wednesday. Citigroup Inc. has a 52 week low of $47.54 and a 52 week high of $76.02. The firm has a market capitalization of $204.83 billion, a price-to-earnings ratio of 15.05 and a beta of 1.45. The stock has a 50 day moving average of $70.29 and a 200-day moving average of $65.12.

Citigroup declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have weighed in on C shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 price target on shares of Citigroup in a research note on Friday, October 6th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $78.50 price objective (up from $77.50) on shares of Citigroup in a report on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating on shares of Citigroup in a report on Monday. Credit Suisse Group reiterated a “buy” rating and issued a $83.00 price objective (up from $73.00) on shares of Citigroup in a report on Monday. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Citigroup currently has a consensus rating of “Buy” and an average target price of $72.08.

In other news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total value of $2,702,000.00. Following the sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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.

Earnings History for Citigroup (NYSE:C)

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