Q3 2017 EPS Estimates for Citigroup Inc. Decreased by Jefferies Group (C)

Citigroup Inc. (NYSE:C) – Jefferies Group dropped their Q3 2017 earnings per share (EPS) estimates for Citigroup in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $1.25 per share for the quarter, down from their prior forecast of $1.33. Jefferies Group has a “Hold” rating and a $81.00 price objective on the stock. Jefferies Group also issued estimates for Citigroup’s FY2018 earnings at $5.75 EPS and FY2019 earnings at $6.70 EPS.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the company earned $1.24 earnings per share. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year.

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Other research analysts have also issued reports about the stock. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price objective for the company. in a report on Monday, July 3rd. Bank of America Corporation restated a “neutral” rating on shares of Citigroup in a research report on Wednesday. HSBC Holdings plc set a $74.00 price target on shares of Citigroup and gave the stock a “hold” rating in a research report on Friday, August 11th. Societe Generale upgraded shares of Citigroup from a “sell” rating to a “hold” rating and raised their price target for the stock from $63.00 to $70.00 in a research report on Monday, September 11th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $75.00 price target on shares of Citigroup in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and an average price target of $74.17.

Shares of Citigroup (NYSE C) opened at 74.94 on Tuesday. The company has a 50-day moving average of $70.52 and a 200-day moving average of $65.19. The stock has a market capitalization of $204.18 billion, a PE ratio of 15.00 and a beta of 1.45. Citigroup has a 12 month low of $47.54 and a 12 month high of $76.02.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Citigroup by 2,718.7% during the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after purchasing an additional 189,447,104 shares in the last quarter. Amalgamated Bank lifted its stake in Citigroup by 1.0% in the first quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock valued at $11,674,000 after acquiring an additional 1,937 shares during the last quarter. Shelton Capital Management lifted its stake in Citigroup by 13.9% in the first quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock valued at $3,613,000 after acquiring an additional 7,384 shares during the last quarter. Brookfield Asset Management Inc. lifted its stake in Citigroup by 51.8% in the first quarter. Brookfield Asset Management Inc. now owns 43,390 shares of the financial services provider’s stock valued at $2,596,000 after acquiring an additional 14,810 shares during the last quarter. Finally, Wafra Investment Advisory Group Inc. NY lifted its stake in Citigroup by 138.0% in the first quarter. Wafra Investment Advisory Group Inc. NY now owns 203,317 shares of the financial services provider’s stock valued at $12,162,000 after acquiring an additional 117,879 shares during the last quarter. 75.37% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at $5,239,853.50. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Citigroup announced that its board has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Citigroup Company Profile

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 and Estimates for Citigroup (NYSE:C)

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