FY2016 EPS Estimates for Citigroup Inc. Lifted by Analyst (C)
Citigroup Inc. (NYSE:C) – Equities researchers at Oppenheimer Holdings upped their FY2016 EPS estimates for Citigroup in a report issued on Friday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the firm will post earnings per share of $4.74 for the year, up from their prior estimate of $4.65. Oppenheimer Holdings has a “Outperform” rating and a $63.00 price target on the stock. Oppenheimer Holdings also issued estimates for Citigroup’s FY2017 earnings at $5.18 EPS.
Citigroup (NYSE:C) last issued its earnings results on Friday, October 14th. The financial services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The business had revenue of $17.80 billion for the quarter, compared to the consensus estimate of $17.32 billion. During the same quarter last year, the firm posted $1.31 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year.
C has been the topic of several other reports. Drexel Hamilton reissued a “buy” rating and issued a $65.00 target price on shares of Citigroup in a research report on Monday, July 18th. Berenberg Bank assumed coverage on shares of Citigroup in a research report on Wednesday, July 13th. They issued a “buy” rating and a $50.00 target price on the stock. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $47.21 target price on the stock. in a research report on Monday, July 11th. Jefferies Group reissued a “buy” rating on shares of Citigroup in a research report on Sunday, July 10th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Citigroup in a research report on Saturday, July 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.76.
Citigroup (NYSE:C) opened at 48.61 on Monday. The stock has a 50 day moving average of $47.49 and a 200-day moving average of $45.05. Citigroup has a 52 week low of $34.52 and a 52 week high of $56.46. The stock has a market cap of $141.23 billion, a P/E ratio of 10.29 and a beta of 1.86.
A number of large investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new stake in shares of Citigroup during the second quarter worth approximately $500,315,000. Vanguard Group Inc. raised its stake in shares of Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock worth $7,420,348,000 after buying an additional 5,872,249 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Citigroup by 38.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,929,535 shares of the financial services provider’s stock worth $760,033,000 after buying an additional 4,966,503 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Citigroup by 39.8% in the second quarter. TIAA CREF Investment Management LLC now owns 15,857,100 shares of the financial services provider’s stock worth $672,182,000 after buying an additional 4,510,455 shares in the last quarter. Finally, Orbis Allan Gray Ltd bought a new stake in shares of Citigroup during the first quarter worth approximately $181,532,000. 71.26% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total value of $360,210.70. Following the sale, the insider now owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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