Q2 2019 Earnings Forecast for Citizens Financial Group Inc Issued By Piper Jaffray Companies (NYSE:CFG)

Citizens Financial Group Inc (NYSE:CFG) – Equities researchers at Piper Jaffray Companies upped their Q2 2019 EPS estimates for shares of Citizens Financial Group in a research note issued on Tuesday, April 9th, Zacks Investment Research reports. Piper Jaffray Companies analyst K. Barker now forecasts that the bank will post earnings of $0.95 per share for the quarter, up from their previous forecast of $0.94. Piper Jaffray Companies also issued estimates for Citizens Financial Group’s Q3 2019 earnings at $1.01 EPS, Q4 2019 earnings at $0.99 EPS, FY2019 earnings at $3.83 EPS, Q1 2020 earnings at $0.93 EPS, Q2 2020 earnings at $1.02 EPS, Q3 2020 earnings at $1.09 EPS and FY2020 earnings at $4.16 EPS.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. During the same period in the previous year, the company posted $0.78 earnings per share.

CFG has been the subject of a number of other research reports. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, January 31st. Wedbush set a $39.00 price objective on Citizens Financial Group and gave the company a “buy” rating in a research note on Monday, April 22nd. Citigroup raised Citizens Financial Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, January 9th. Goldman Sachs Group raised Citizens Financial Group to a “buy” rating and reduced their price objective for the company from $44.00 to $40.00 in a research note on Monday, January 7th. Finally, ValuEngine cut Citizens Financial Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Citizens Financial Group has an average rating of “Buy” and an average target price of $41.36.

CFG stock traded up $0.55 during mid-day trading on Friday, reaching $36.80. The company’s stock had a trading volume of 4,094,728 shares, compared to its average volume of 4,802,931. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.96. Citizens Financial Group has a 12 month low of $27.62 and a 12 month high of $43.12. The company has a market cap of $16.94 billion, a P/E ratio of 10.34, a PEG ratio of 1.16 and a beta of 1.45.

Large investors have recently made changes to their positions in the stock. Semmax Financial Advisors Inc. purchased a new position in Citizens Financial Group in the fourth quarter worth $26,000. PRW Wealth Management LLC purchased a new position in Citizens Financial Group in the fourth quarter worth $32,000. Liberty Wealth Management LLC purchased a new position in Citizens Financial Group in the first quarter worth $34,000. Exane Asset Management purchased a new position in Citizens Financial Group in the fourth quarter worth $42,000. Finally, CWM LLC boosted its position in Citizens Financial Group by 29.3% in the fourth quarter. CWM LLC now owns 1,536 shares of the bank’s stock worth $46,000 after purchasing an additional 348 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.48%. Citizens Financial Group’s payout ratio is 35.96%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

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