Citizens Financial Group, Inc. (NYSE:CFG) Expected to Announce Quarterly Sales of $1.93 Billion

Posted by on May 25th, 2022

Equities research analysts expect Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) to announce $1.93 billion in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Citizens Financial Group’s earnings. The lowest sales estimate is $1.79 billion and the highest is $2.01 billion. Citizens Financial Group posted sales of $1.61 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 19.9%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Citizens Financial Group will report full year sales of $7.81 billion for the current fiscal year, with estimates ranging from $7.57 billion to $7.99 billion. For the next financial year, analysts forecast that the business will post sales of $8.68 billion, with estimates ranging from $7.73 billion to $9.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Citizens Financial Group.

Citizens Financial Group (NYSE:CFG – Get Rating) last posted its earnings results on Tuesday, April 19th. The bank reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Citizens Financial Group had a net margin of 30.67% and a return on equity of 10.69%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 earnings per share.

A number of equities analysts have recently commented on the stock. UBS Group upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $54.00 in a report on Monday, May 16th. Robert W. Baird reiterated an “outperform” rating and issued a $58.00 target price on shares of Citizens Financial Group in a report on Thursday, April 21st. Citigroup downgraded Citizens Financial Group from a “buy” rating to a “neutral” rating in a report on Monday, April 11th. JPMorgan Chase & Co. lifted their target price on Citizens Financial Group from $56.50 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, February 3rd. Finally, Keefe, Bruyette & Woods downgraded Citizens Financial Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $64.00 to $54.00 in a report on Tuesday, April 5th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and a consensus price target of $56.60.

In related news, Director Terrance Lillis bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were bought at an average price of $41.31 per share, with a total value of $41,310.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $82,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Raleigh Capital Management Inc. bought a new stake in shares of Citizens Financial Group in the first quarter valued at $31,000. Kings Point Capital Management purchased a new position in Citizens Financial Group during the 3rd quarter valued at about $33,000. Carolinas Wealth Consulting LLC increased its position in shares of Citizens Financial Group by 37.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 772 shares of the bank’s stock valued at $36,000 after buying an additional 210 shares during the period. Mystic Asset Management Inc. purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $37,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

NYSE CFG opened at $38.71 on Wednesday. The firm’s fifty day moving average price is $42.42 and its two-hundred day moving average price is $47.58. The stock has a market cap of $19.18 billion, a PE ratio of 8.20 and a beta of 1.44. Citizens Financial Group has a fifty-two week low of $36.76 and a fifty-two week high of $57.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 0.89.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 17th. Investors of record on Tuesday, May 3rd were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Monday, May 2nd. This represents a $1.56 annualized dividend and a dividend yield of 4.03%. Citizens Financial Group’s payout ratio is 33.05%.

About Citizens Financial Group (Get Rating)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Featured Articles

Get a free copy of the Zacks research report on Citizens Financial Group (CFG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

Want More Great Investing Ideas?

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.