$18.71 Billion in Sales Expected for Citigroup Inc (C) This Quarter

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Wall Street analysts expect that Citigroup Inc (NYSE:C) will announce sales of $18.71 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Citigroup’s earnings. The lowest sales estimate is $18.49 billion and the highest is $19.01 billion. Citigroup reported sales of $18.87 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The company is expected to announce its next earnings report before the market opens on Monday, April 15th.

According to Zacks, analysts expect that Citigroup will report full year sales of $74.34 billion for the current financial year, with estimates ranging from $73.56 billion to $75.40 billion. For the next financial year, analysts expect that the business will post sales of $77.04 billion, with estimates ranging from $75.90 billion to $78.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Citigroup.

Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, January 14th. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.55 by $0.06. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.57 billion. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share.

C has been the topic of several research reports. Barclays cut their price target on Citigroup from $93.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Wells Fargo & Co lowered Citigroup to a “buy” rating in a research note on Friday, January 4th. Credit Suisse Group cut their price target on Citigroup from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, December 7th. Standpoint Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price target on the stock in a research note on Wednesday, December 26th. Finally, Odeon Capital Group initiated coverage on Citigroup in a research note on Wednesday, March 27th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Citigroup currently has an average rating of “Buy” and an average target price of $77.74.

In other Citigroup news, insider W. Bradford Hu sold 5,420 shares of Citigroup stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $64.27, for a total value of $348,343.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Whitaker sold 7,000 shares of Citigroup stock in a transaction dated Wednesday, February 13th. The shares were 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. 0.09% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of C. Bank of New York Mellon Corp grew its stake in shares of Citigroup by 96,369.8% during the third quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock worth $2,982,839,000 after acquiring an additional 41,535,375 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of Citigroup by 5.6% during the third quarter. CI Investments Inc. now owns 1,599,257 shares of the financial services provider’s stock worth $114,731,000 after purchasing an additional 84,800 shares during the period. Cpwm LLC acquired a new stake in shares of Citigroup during the third quarter worth about $714,000. Nokota Management LP lifted its holdings in shares of Citigroup by 22.3% during the third quarter. Nokota Management LP now owns 764,117 shares of the financial services provider’s stock worth $54,818,000 after purchasing an additional 139,117 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Citigroup by 6.0% during the third quarter. Assetmark Inc. now owns 169,900 shares of the financial services provider’s stock worth $12,189,000 after purchasing an additional 9,590 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Shares of Citigroup stock opened at $65.82 on Friday. The firm has a market cap of $167.21 billion, a PE ratio of 9.90, a PEG ratio of 0.81 and a beta of 1.67. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup has a 12 month low of $48.42 and a 12 month high of $75.24.

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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