Citigroup Inc. expects earnings per share of $1.60 in the third quarter of 2023 (NYSE:C)

Citigroup Inc. (NYSE:C – Receive Rating) – Research analysts at Oppenheimer issued Q3 2023 earnings per share (EPS) estimates for Citigroup in a research note issued on Thursday, November 17. Oppenheimer analyst C. Kotovsky expects the company to earn $1.60 per share for the quarter. The consensus estimate for Citigroup’s current full-year earnings per share is $7.09. Oppenheimer also issued estimates for Citigroup’s Q4 2023 earnings of $1.23 EPS, FY 2023 earnings of $7.46 EPS and FY 2024 earnings of $8.09 EPS.

Si has been the subject of several other research reports. JPMorgan Chase & Co raised its target price on Citigroup from $49.00 to $49.50 in a report on Wednesday, November 2. Credit Suisse Group set $54.00 price objective on shares of Citigroup in a research report on Monday, October 10. Goldman Sachs Group lowered shares of Citigroup from a “buy” rating to a “neutral” rating and raised its price target for the stock from $54.00 to $47.00 in a research note on Monday, October 3. Barclays cut its price objective on Citigroup from $64.00 to $57.00 and set an “equal weight” rating on the stock in a report on Monday, October 17. Finally, Deutsche Bank Aktiengesellschaft cut its price target on Citigroup from $55.00 to $52.00 and set a “hold” rating on the stock in a research note on Monday, September 12. One analyst has Sell rating on the stock, eleven have Hold rating and seven have Buy rating on the stock. The company has an average rating of “Hold” and an average target price of $58.60, according to MarketBeat.com.

citigroup stock performance

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The NYSE C opened Friday at $48.66. The 50-day moving average price of the business is $45.36 and its 200-day moving average price is $48.37. The company has a quick ratio of 0.93, current ratio of 0.93 and debt-to-equity ratio of 1.40. The firm has a market cap of $94.25 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.70, and a beta of 1.58. Citigroup’s 52-week low is $40.01 and its 52-week high is $69.11.

Citigroup (NYSE:C – RECEAR Rating) last posted its quarterly earnings results on Friday, October 14. The company reported EPS of $1.63 for the quarter, beating the consensus estimate of $1.46 by $0.17. The firm had revenue of $18.51 billion during the quarter, compared to the consensus estimate of $18.28 billion. Citigroup’s net margin was 17.31% and return on equity was 9.14%. Citigroup’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS.

citigroup dividend announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. A dividend of $0.51 per share will be paid to investors of record on Monday, November 7. This represents a $2.04 dividend and a yield of 4.19% on an annualized basis. The ex-dividend date for this dividend is Friday, November 4th. Citigroup’s dividend payout ratio currently stands at 27.95%.

Insider activity at Citigroup

In related news, insider Citigroup Inc. sold 4,614,358 shares of the firm’s stock in transactions that occurred on Monday, Sept. 12. Shares were sold at an average price of $36.25, for a total transaction of $167,270,477.50. Following the sale, the insider now holds 15,318 shares in the company, valued at $555,277.50. The sale was disclosed in a document filed with the SEC, which can be accessed via this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Hedge funds weigh in on Citigroup

Large investors have increased or decreased their stake in the business recently. McClaren Financial Advisors Inc. acquired a new position in Citigroup shares worth $25,000 in the third quarter. Householder Group Estate & Retirement Specialists LLC purchased a new position in Citigroup shares worth $28,000 in the third quarter. Nvwm LLC increased its position in Citigroup by 196.3% during the first quarter. Nvwm LLC now owns 554 shares of the company’s stock valued at $30,000 after acquiring an additional 367 shares during the period. Corsicana & Co. raised its stake in Citigroup to 314.5% during the second quarter. Corsicana & Company now owns 659 shares of the company valued at $30,000 after acquiring an additional 500 shares during the last quarter. Finally, Rational Advisors LLC increased its stake in Citigroup shares to 71.1% in the first quarter. Rational Advisors LLC now owns 592 shares of the company’s stock valued at $32,000 after purchasing an additional 246 shares during the period. 71.46% of the stock is currently held by hedge funds and other institutional investors.

about citigroup

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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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Earnings History and Projections for Citigroup (NYSE:C)

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