Citigroup (C) Expected to Post Quarterly Sales of $18.56 Billion

Brokerages expect that Citigroup (NYSE:C) will announce sales of $18.56 billion for the current quarter, according to Zacks. Three analysts have made estimates for Citigroup’s earnings. The lowest sales estimate is $18.50 billion and the highest is $18.60 billion. Citigroup reported sales of $17.90 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The company is scheduled to report its next quarterly earnings report on Friday, July 13th.

According to Zacks, analysts expect that Citigroup will report full-year sales of $74.42 billion for the current financial year, with estimates ranging from $73.32 billion to $76.02 billion. For the next year, analysts forecast that the business will report sales of $77.93 billion per share, with estimates ranging from $75.90 billion to $80.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Citigroup.

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Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.07. Citigroup had a negative net margin of 6.28% and a positive return on equity of 8.13%. The business had revenue of $18.87 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same period in the prior year, the company posted $1.35 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis.

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Citigroup in a research note on Wednesday, January 17th. DZ Bank raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Macquarie upped their price target on shares of Citigroup from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. BMO Capital Markets reaffirmed a “hold” rating and set a $76.00 price target on shares of Citigroup in a research note on Friday, April 13th. Finally, Vining Sparks reaffirmed a “buy” rating and set a $82.00 price target on shares of Citigroup in a research note on Monday, April 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company. Citigroup currently has an average rating of “Hold” and an average target price of $81.01.

Several institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Citigroup by 17.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 96,560 shares of the financial services provider’s stock worth $7,185,000 after acquiring an additional 14,491 shares during the period. Certified Advisory Corp purchased a new position in shares of Citigroup during the 4th quarter worth about $1,393,000. Wagner Wealth Management LLC purchased a new position in shares of Citigroup during the 4th quarter worth about $230,000. Xact Kapitalforvaltning AB lifted its holdings in shares of Citigroup by 6.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 472,558 shares of the financial services provider’s stock worth $35,163,000 after acquiring an additional 29,101 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Citigroup by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 429,728 shares of the financial services provider’s stock valued at $31,976,000 after buying an additional 2,867 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Shares of NYSE:C traded down $0.28 on Tuesday, reaching $70.00. 17,629,879 shares of the company were exchanged, compared to its average volume of 19,566,040. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.30. Citigroup has a 1-year low of $57.63 and a 1-year high of $80.70. The stock has a market cap of $179,904.61, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.56.

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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.

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Earnings History and Estimates for Citigroup (NYSE:C)

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