Citigroup Inc (NYSE:C) Forecasted to Post FY2018 Earnings of $6.61 Per Share
Citigroup Inc (NYSE:C) – Stock analysts at Oppenheimer increased their FY2018 earnings estimates for Citigroup in a research note issued to investors on Tuesday, September 18th, according to Zacks Investment Research. Oppenheimer analyst C. Kotowski now anticipates that the financial services provider will post earnings of $6.61 per share for the year, up from their prior estimate of $6.53. Oppenheimer has a “Outperformer” rating and a $91.00 price target on the stock.
Several other research analysts have also issued reports on C. Deutsche Bank raised Citigroup from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, June 20th. ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $85.00 target price on shares of Citigroup in a research report on Monday, July 16th. Morgan Stanley decreased their target price on Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, July 16th. Finally, BMO Capital Markets increased their target price on Citigroup from $76.00 to $85.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $82.25.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. The business had revenue of $18.39 billion during the quarter, compared to analyst estimates of $18.43 billion. Citigroup had a positive return on equity of 8.78% and a negative net margin of 5.45%. During the same quarter in the prior year, the company posted $1.42 EPS.
In other Citigroup news, insider Raja Akram sold 500 shares of the stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $69.21, for a total transaction of $34,605.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total value of $1,085,400.00. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Community Bank & Trust Waco Texas boosted its stake in Citigroup by 25.6% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 4,409 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 900 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Citigroup in the 3rd quarter worth $725,000. Berkshire Asset Management LLC PA boosted its stake in shares of Citigroup by 1.5% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 182,073 shares of the financial services provider’s stock worth $13,062,000 after buying an additional 2,717 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Citigroup in the 3rd quarter worth $166,000. Finally, Chesley Taft & Associates LLC boosted its stake in shares of Citigroup by 2.3% in the 3rd quarter. Chesley Taft & Associates LLC now owns 152,626 shares of the financial services provider’s stock worth $10,949,000 after buying an additional 3,375 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Further Reading: Earnings Per Share (EPS) Explained
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