Citigroup Inc to Post Q3 2018 Earnings of $1.62 Per Share, Jefferies Group Forecasts (C)
Citigroup Inc (NYSE:C) – Equities research analysts at Jefferies Group upped their Q3 2018 earnings per share (EPS) estimates for Citigroup in a report released on Wednesday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $1.62 per share for the quarter, up from their prior forecast of $1.61. Jefferies Group has a “Hold” rating and a $83.00 price objective on the stock. Jefferies Group also issued estimates for Citigroup’s FY2018 earnings at $6.30 EPS and FY2019 earnings at $7.45 EPS.
Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.09. The company had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.61%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share.
Citigroup (NYSE:C) opened at $73.68 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.30. The firm has a market cap of $194,810.00, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.51. Citigroup has a 12-month low of $56.55 and a 12-month high of $80.70.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 5th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, February 2nd. Citigroup’s dividend payout ratio is currently 23.53%.
Several institutional investors and hedge funds have recently made changes to their positions in C. Vantage Financial Partners Ltd. Inc. purchased a new position in Citigroup during the second quarter worth about $1,034,000. Sawyer & Company Inc acquired a new stake in shares of Citigroup during the fourth quarter worth about $117,000. Baldwin Brothers Inc. MA lifted its position in shares of Citigroup by 88.4% during the fourth quarter. Baldwin Brothers Inc. MA now owns 1,598 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 750 shares in the last quarter. Balentine LLC lifted its position in shares of Citigroup by 20.2% during the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 272 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its position in shares of Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 300 shares in the last quarter. 79.62% of the stock is owned by hedge funds and other institutional investors.
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.
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