Brokers Offer Predictions for Citigroup Inc.’s FY2020 Earnings (NYSE:C)

Citigroup Inc. (NYSE:C) – Equities research analysts at Piper Sandler raised their FY2020 earnings estimates for shares of Citigroup in a report issued on Monday, January 11th. Piper Sandler analyst J. Harte now anticipates that the company will post earnings per share of $4.28 for the year, up from their prior estimate of $4.27. Piper Sandler currently has a “Overweight” rating and a $85.00 price target on the stock. Piper Sandler also issued estimates for Citigroup’s Q4 2020 earnings at $1.33 EPS, Q2 2021 earnings at $1.68 EPS, Q3 2021 earnings at $1.57 EPS, FY2021 earnings at $6.92 EPS, Q1 2022 earnings at $2.30 EPS, Q3 2022 earnings at $2.11 EPS and FY2022 earnings at $8.76 EPS.

Citigroup (NYSE:C) last released its earnings results on Monday, October 19th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.39. Citigroup had a net margin of 12.72% and a return on equity of 6.57%. The company had revenue of $17.30 billion for the quarter, compared to analysts’ expectations of $17.18 billion. During the same quarter last year, the business earned $1.97 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets cut their price objective on shares of Citigroup from $87.00 to $83.00 in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Citigroup from $50.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, January 6th. JPMorgan Chase & Co. lowered shares of Citigroup from an “overweight” rating to a “neutral” rating and set a $57.50 price objective for the company. in a report on Thursday, October 8th. Barclays lowered shares of Citigroup from an “overweight” rating to an “equal weight” rating and set a $72.00 price objective for the company. in a report on Monday, January 4th. They noted that the move was a valuation call. Finally, Oppenheimer reissued a “buy” rating and issued a $100.00 target price on shares of Citigroup in a report on Thursday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $71.07.

NYSE C opened at $66.86 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.55. Citigroup has a 12 month low of $32.00 and a 12 month high of $83.11. The company’s 50 day moving average is $60.29 and its two-hundred day moving average is $51.27. The stock has a market cap of $139.20 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.27 and a beta of 1.95.

Several large investors have recently added to or reduced their stakes in C. Sanders Capital LLC raised its holdings in shares of Citigroup by 3.3% in the third quarter. Sanders Capital LLC now owns 20,273,576 shares of the company’s stock valued at $955,560,000 after acquiring an additional 638,347 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Citigroup by 1,321.1% in the third quarter. Great West Life Assurance Co. Can now owns 19,376,360 shares of the company’s stock valued at $73,923,000 after acquiring an additional 18,012,890 shares in the last quarter. Morgan Stanley raised its holdings in shares of Citigroup by 10.3% in the third quarter. Morgan Stanley now owns 17,224,165 shares of the company’s stock valued at $742,535,000 after acquiring an additional 1,603,608 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Citigroup by 8.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 10,143,816 shares of the company’s stock valued at $437,300,000 after acquiring an additional 757,633 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings in shares of Citigroup by 12.8% in the third quarter. Pzena Investment Management LLC now owns 8,537,381 shares of the company’s stock valued at $368,046,000 after acquiring an additional 968,011 shares in the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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