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.
WARNING: This report was published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.com-unik.info/2017/10/11/citigroup-inc-c-set-to-announce-quarterly-earnings-on-thursday.html.
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.
What are top analysts saying about Citigroup Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Citigroup Inc. and related companies.