Citigroup Inc. (NYSE:C – Free Report) – Equities research analysts at Seaport Res Ptn decreased their FY2023 earnings per share (EPS) estimates for Citigroup in a note issued to investors on Saturday, July 15th. Seaport Res Ptn analyst J. Mitchell now anticipates that the company will post earnings of $5.85 per share for the year, down from their previous forecast of $6.10. The consensus estimate for Citigroup’s current full-year earnings is $5.76 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q2 2024 earnings at $1.66 EPS, Q3 2024 earnings at $1.59 EPS and FY2024 earnings at $6.80 EPS.
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings data on Friday, July 14th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $19.34 billion. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.30 EPS.
Citigroup Stock Performance
Shares of Citigroup stock opened at $46.26 on Tuesday. The company has a 50-day simple moving average of $46.45 and a two-hundred day simple moving average of $47.80. The company has a market capitalization of $90.06 billion, a PE ratio of 7.33, a P/E/G ratio of 1.79 and a beta of 1.56. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.95 and a current ratio of 0.95. Citigroup has a one year low of $40.01 and a one year high of $54.56.
Hedge Funds Weigh In On Citigroup
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Mexico Educational Retirement Board lifted its stake in Citigroup by 5.0% in the second quarter. New Mexico Educational Retirement Board now owns 94,126 shares of the company’s stock worth $4,334,000 after purchasing an additional 4,500 shares during the last quarter. Mcdonald Partners LLC raised its stake in Citigroup by 1.4% during the 2nd quarter. Mcdonald Partners LLC now owns 16,249 shares of the company’s stock valued at $748,000 after buying an additional 225 shares during the last quarter. Procyon Advisors LLC bought a new position in Citigroup in the 2nd quarter worth $2,002,000. Ritholtz Wealth Management raised its position in shares of Citigroup by 21.2% during the 2nd quarter. Ritholtz Wealth Management now owns 59,419 shares of the company’s stock valued at $2,736,000 after purchasing an additional 10,379 shares during the period. Finally, My Legacy Advisors LLC bought a new stake in Citigroup in the 2nd quarter valued at $363,000. Institutional investors own 69.39% of the company’s stock.
About Citigroup
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. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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