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Research Analysts Offer Predictions for Citigroup Inc.'s Q1 2023 Earnings (NYSE:C) – MarketBeat

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Citigroup Inc. (NYSE:CGet Rating) – Equities researchers at Oppenheimer issued their Q1 2023 earnings per share estimates for shares of Citigroup in a research report issued to clients and investors on Thursday, November 17th. Oppenheimer analyst C. Kotowski anticipates that the company will post earnings of $2.29 per share for the quarter. The consensus estimate for Citigroup’s current full-year earnings is $7.09 per share. Oppenheimer also issued estimates for Citigroup’s Q2 2023 earnings at $2.32 EPS.
Several other equities research analysts also recently issued reports on the company. Odeon Capital Group downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. StockNews.com assumed coverage on Citigroup in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Credit Suisse Group set a $54.00 target price on Citigroup in a research report on Monday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Citigroup from $55.00 to $52.00 and set a “hold” rating on the stock in a research report on Monday, September 12th. Finally, Barclays lowered their price objective on Citigroup from $64.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, October 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Hold” and an average target price of $58.60.

Citigroup Price Performance

Shares of NYSE C opened at $48.66 on Monday. The stock has a fifty day simple moving average of $45.32 and a two-hundred day simple moving average of $48.33. Citigroup has a 1-year low of $40.01 and a 1-year high of $69.11. The firm has a market cap of $94.25 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40.
Citigroup (NYSE:CGet Rating) last announced its quarterly earnings data on Friday, October 14th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. Citigroup had a return on equity of 9.14% and a net margin of 17.31%. The business had revenue of $18.51 billion during the quarter, compared to analyst estimates of $18.28 billion. During the same period in the prior year, the company earned $2.49 earnings per share. Citigroup’s revenue was up 5.9% compared to the same quarter last year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be paid a $0.51 dividend. The ex-dividend date is Friday, November 4th. This represents a $2.04 annualized dividend and a dividend yield of 4.19%. Citigroup’s payout ratio is presently 27.95%.

Insider Buying and Selling

In related news, insider Citigroup Inc sold 4,614,358 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total value of $167,270,477.50. Following the sale, the insider now directly owns 15,318 shares of the company’s stock, valued at $555,277.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.

Institutional Trading of Citigroup

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nvwm LLC lifted its holdings in shares of Citigroup by 196.3% during the first quarter. Nvwm LLC now owns 554 shares of the company’s stock valued at $30,000 after purchasing an additional 367 shares during the last quarter. Rational Advisors LLC raised its holdings in Citigroup by 71.1% in the 1st quarter. Rational Advisors LLC now owns 592 shares of the company’s stock worth $32,000 after acquiring an additional 246 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Citigroup in the 3rd quarter worth approximately $25,000. Corsicana & Co. raised its holdings in Citigroup by 314.5% in the 2nd quarter. Corsicana & Co. now owns 659 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Finally, DB Wealth Management Group LLC raised its holdings in Citigroup by 812.3% in the 1st quarter. DB Wealth Management Group LLC now owns 666 shares of the company’s stock worth $36,000 after acquiring an additional 593 shares during the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Company Profile

(Get Rating)
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).

Further Reading

Earnings History and Estimates for Citigroup (NYSE:C)
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