Analysts Offer Predictions for Citizens Financial Group Inc’s Q4 2019 Earnings (NYSE:CFG)

Citizens Financial Group Inc (NYSE:CFG) – Investment analysts at Wedbush decreased their Q4 2019 earnings per share (EPS) estimates for Citizens Financial Group in a research note issued to investors on Monday, October 21st. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $0.97 per share for the quarter, down from their previous forecast of $0.98. Wedbush also issued estimates for Citizens Financial Group’s FY2020 earnings at $3.91 EPS and FY2021 earnings at $4.11 EPS.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 18th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 22.29%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share.

A number of other analysts have also issued reports on the company. UBS Group lowered Citizens Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $38.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price objective on Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Citigroup lowered Citizens Financial Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $39.00 to $32.00 in a research note on Tuesday, October 8th. Argus upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday, July 29th. Finally, Zacks Investment Research lowered Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.35.

Shares of CFG opened at $35.94 on Wednesday. The firm has a market cap of $15.91 billion, a PE ratio of 10.10, a PEG ratio of 1.44 and a beta of 1.47. The stock’s fifty day moving average price is $34.98 and its two-hundred day moving average price is $34.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.96. Citizens Financial Group has a 1 year low of $27.62 and a 1 year high of $38.64.

The business also recently disclosed a dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, October 29th. Citizens Financial Group’s payout ratio is 40.45%.

In related news, Director Charles John Koch acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of $32.45 per share, for a total transaction of $486,750.00. Following the purchase, the director now owns 68,781 shares in the company, valued at approximately $2,231,943.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CFG. Nuveen Asset Management LLC grew its position in Citizens Financial Group by 67,645.0% during the second quarter. Nuveen Asset Management LLC now owns 8,455,935 shares of the bank’s stock worth $299,002,000 after buying an additional 8,443,453 shares in the last quarter. Eminence Capital LP purchased a new position in Citizens Financial Group during the second quarter worth about $87,590,000. Nomura Holdings Inc. purchased a new position in Citizens Financial Group during the second quarter worth about $56,779,000. Prudential Financial Inc. grew its position in Citizens Financial Group by 75.0% during the second quarter. Prudential Financial Inc. now owns 2,796,300 shares of the bank’s stock worth $98,877,000 after buying an additional 1,198,821 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its position in Citizens Financial Group by 1,469.4% during the second quarter. Balyasny Asset Management LLC now owns 933,552 shares of the bank’s stock worth $33,010,000 after buying an additional 874,067 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

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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