FY2020 EPS Estimates for Citigroup Inc (NYSE:C) Cut by Oppenheimer

Citigroup Inc (NYSE:C) – Investment analysts at Oppenheimer lowered their FY2020 earnings per share estimates for Citigroup in a note issued to investors on Monday, March 25th, according to Zacks Investment Research. Oppenheimer analyst C. Kotowski now anticipates that the financial services provider will post earnings per share of $8.44 for the year, down from their prior forecast of $8.73. Oppenheimer currently has a “Outperform” rating and a $99.00 target price on the stock.

C has been the topic of several other research reports. BMO Capital Markets boosted their price objective on Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Standpoint Research downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Zacks Investment Research downgraded Citigroup from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Jefferies Financial Group upgraded Citigroup from a “hold” rating to a “buy” rating and upped their target price for the company from $64.00 to $73.00 in a report on Friday, February 22nd. Finally, Macquarie upgraded Citigroup from a “neutral” rating to an “outperform” rating in a report on Monday, January 7th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.61.

NYSE C traded down $0.68 on Thursday, hitting $69.67. 13,513,780 shares of the company were exchanged, compared to its average volume of 15,146,666. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. The company has a market cap of $179.06 billion, a PE ratio of 10.48, a PEG ratio of 0.80 and a beta of 1.67. Citigroup has a twelve month low of $48.42 and a twelve month high of $75.24.

Citigroup (NYSE:C) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The firm had revenue of $18.58 billion for the quarter, compared to the consensus estimate of $18.56 billion. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS.

A number of institutional investors have recently made changes to their positions in C. BLB&B Advisors LLC bought a new stake in shares of Citigroup in the first quarter valued at approximately $260,000. Financial Gravity Wealth Inc. bought a new stake in shares of Citigroup in the first quarter valued at approximately $77,000. Cypress Wealth Services LLC bought a new stake in shares of Citigroup in the first quarter valued at approximately $230,000. Barometer Capital Management Inc. bought a new stake in shares of Citigroup in the first quarter valued at approximately $604,000. Finally, Eqis Capital Management Inc. boosted its position in shares of Citigroup by 128.7% in the first quarter. Eqis Capital Management Inc. now owns 63,957 shares of the financial services provider’s stock valued at $3,979,000 after acquiring an additional 35,990 shares during the period. 71.30% of the stock is owned by hedge funds and other institutional investors.

In related news, insider W. Bradford Hu sold 5,420 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $64.27, for a total value of $348,343.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Whitaker sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $63.24, for a total value of $442,680.00. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. Citigroup’s payout ratio is 27.07%.

About Citigroup

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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