Q3 2020 EPS Estimates for Citigroup Inc Cut by Piper Sandler (NYSE:C)

Citigroup Inc (NYSE:C) – Equities research analysts at Piper Sandler reduced their Q3 2020 earnings estimates for shares of Citigroup in a research report issued on Tuesday, September 15th. Piper Sandler analyst J. Harte now forecasts that the financial services provider will earn $0.71 per share for the quarter, down from their prior forecast of $0.85. Piper Sandler also issued estimates for Citigroup’s Q1 2021 earnings at $1.81 EPS, Q2 2021 earnings at $1.56 EPS and FY2021 earnings at $6.85 EPS.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. The company had revenue of $19.77 billion during the quarter, compared to analysts’ expectations of $19.06 billion. During the same period in the previous year, the firm posted $1.95 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the company. Odeon Capital Group cut Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, August 18th. Societe Generale raised Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. Berenberg Bank boosted their price target on Citigroup from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Standpoint Research downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Bank of America lifted their price objective on Citigroup from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and a consensus price target of $73.58.

NYSE C opened at $46.02 on Wednesday. Citigroup has a fifty-two week low of $32.00 and a fifty-two week high of $83.11. The stock has a market cap of $95.81 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.75. The business has a fifty day moving average of $51.23 and a 200-day moving average of $49.52. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60.

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, July 31st. Citigroup’s dividend payout ratio (DPR) is presently 26.91%.

Several large investors have recently bought and sold shares of the company. Public Investment Fund bought a new position in Citigroup in the 1st quarter worth approximately $521,979,000. Nordea Investment Management AB grew its holdings in Citigroup by 123.8% in the 2nd quarter. Nordea Investment Management AB now owns 13,113,214 shares of the financial services provider’s stock worth $658,414,000 after buying an additional 7,254,912 shares in the last quarter. Sanders Capital LLC grew its holdings in Citigroup by 52.0% in the 2nd quarter. Sanders Capital LLC now owns 19,635,229 shares of the financial services provider’s stock worth $1,108,724,000 after buying an additional 6,714,645 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in Citigroup by 201.4% in the 2nd quarter. Thornburg Investment Management Inc. now owns 4,661,658 shares of the financial services provider’s stock worth $238,211,000 after buying an additional 3,115,208 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Citigroup by 133.7% in the 2nd quarter. SG Americas Securities LLC now owns 529,591 shares of the financial services provider’s stock worth $27,062,000 after buying an additional 2,098,850 shares in the last quarter. 75.57% of the stock is owned by institutional investors.

Citigroup Company Profile

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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Earnings History and Estimates for Citigroup (NYSE:C)

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