Citigroup Inc (C) Expected to Post Quarterly Sales of $17.95 Billion

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Equities analysts expect that Citigroup Inc (NYSE:C) will post $17.95 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Citigroup’s earnings. The lowest sales estimate is $17.87 billion and the highest is $18.03 billion. Citigroup posted sales of $17.26 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The business is expected to report its next earnings results on Tuesday, January 15th.

On average, analysts expect that Citigroup will report full-year sales of $73.73 billion for the current year, with estimates ranging from $73.60 billion to $73.86 billion. For the next financial year, analysts forecast that the business will report sales of $76.46 billion, with estimates ranging from $75.34 billion to $77.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Citigroup.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. The company had revenue of $18.39 billion during the quarter, compared to the consensus estimate of $18.43 billion. During the same period in the previous year, the business earned $1.42 earnings per share.

A number of analysts have weighed in on C shares. BMO Capital Markets boosted their target price on shares of Citigroup from $76.00 to $85.00 and gave the stock a “market perform” rating in a research note on Monday, July 16th. Oppenheimer boosted their target price on shares of Citigroup from $89.00 to $91.00 and gave the stock an “outperformer” rating in a research note on Monday, July 16th. Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Tuesday, October 16th. Goldman Sachs Group set a $78.00 target price on shares of Citigroup and gave the stock a “neutral” rating in a research note on Friday, July 20th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 target price on shares of Citigroup in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $82.91.

In related news, CEO Francisco Aristeguieta sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Advisors LLC raised its position in shares of Citigroup by 349.7% during the 2nd quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,336 shares in the last quarter. IMA Wealth Inc. bought a new position in shares of Citigroup during the 2nd quarter valued at $129,000. Arlington Partners LLC bought a new position in shares of Citigroup during the 3rd quarter valued at $143,000. Peoples Financial Services CORP. grew its holdings in shares of Citigroup by 82.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Citigroup during the 3rd quarter valued at $166,000. 74.84% of the stock is owned by institutional investors.

C traded up $1.22 during trading on Wednesday, hitting $65.75. 7,502,111 shares of the stock traded hands, compared to its average volume of 18,905,622. Citigroup has a twelve month low of $63.18 and a twelve month high of $80.70. The company has a market cap of $165.02 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.84 and a beta of 1.46. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.00 and a quick ratio of 1.00.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, November 2nd. Citigroup’s dividend payout ratio is currently 33.77%.

About Citigroup

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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