Citigroup Inc (NYSE:C) – Equities researchers at Jefferies Financial Group increased their Q3 2019 earnings per share (EPS) estimates for shares of Citigroup in a note issued to investors on Tuesday, July 16th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will earn $1.99 per share for the quarter, up from their previous estimate of $1.97. Jefferies Financial Group also issued estimates for Citigroup’s Q4 2019 earnings at $1.95 EPS, FY2019 earnings at $7.63 EPS and FY2020 earnings at $8.85 EPS.
Several other research analysts have also commented on the company. JPMorgan Chase & Co. started coverage on Pinduoduo in a research report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 target price for the company. HSBC reissued a “hold” rating on shares of Societe Generale in a report on Thursday, April 4th. Barclays downgraded Barrick Gold from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $15.00 to $18.00 in a report on Tuesday, July 16th. Bank of America set a $68.00 price target on Inphi and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Odeon Capital Group started coverage on Citigroup in a report on Wednesday, March 27th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Citigroup has a consensus rating of “Buy” and an average price target of $78.90.
Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The firm had revenue of $18.76 billion during the quarter, compared to analyst estimates of $18.49 billion. During the same quarter last year, the firm earned $1.63 EPS. Citigroup’s quarterly revenue was up 1.6% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of C. LFA Lugano Financial Advisors SA purchased a new position in shares of Citigroup during the first quarter valued at $27,000. Harvest Group Wealth Management LLC purchased a new position in shares of Citigroup during the first quarter valued at $28,000. Centaurus Financial Inc. boosted its position in Citigroup by 95.1% during the first quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 835 shares during the last quarter. Avestar Capital LLC boosted its position in Citigroup by 35.0% during the first quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 158 shares during the last quarter. Finally, Farmers National Bank acquired a new stake in Citigroup during the first quarter valued at $34,000. Institutional investors and hedge funds own 75.98% of the company’s stock.
In related news, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total value of $2,079,900.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 2nd. Citigroup’s payout ratio is presently 27.07%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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