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

Citigroup Inc. (NYSE:CGet Rating) – Research analysts at Oppenheimer issued their Q1 2023 EPS estimates for shares of Citigroup in a research report issued to clients and investors on Thursday, November 17th. Oppenheimer analyst C. Kotowski expects that the company will earn $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.

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

A number of other equities analysts also recently commented on the stock. BMO Capital Markets dropped their target price on shares of Citigroup from $76.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, October 17th. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $49.00 to $49.50 in a research note on Wednesday, November 2nd. Barclays dropped their target price on shares of Citigroup from $64.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th. Credit Suisse Group set a $54.00 target price on shares of Citigroup in a research note on Monday, October 10th. Finally, Odeon Capital Group downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Hold” and an average price target of $58.60.

Citigroup Stock Performance

Shares of NYSE:C opened at $48.66 on Monday. The company has a market capitalization of $94.25 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.71 and a beta of 1.58. Citigroup has a 12 month low of $40.01 and a 12 month high of $69.11. The firm’s 50-day moving average is $45.32 and its 200 day moving average is $48.33. 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 Dividend Announcement

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

Insider Activity at Citigroup

In related news, insider Citigroup Inc sold 4,614,358 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.25, for a total transaction of $167,270,477.50. Following the completion of the sale, the insider now owns 15,318 shares of the company’s stock, valued at $555,277.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Citigroup

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nvwm LLC raised its holdings in shares of Citigroup by 196.3% in the first quarter. Nvwm LLC now owns 554 shares of the company’s stock worth $30,000 after buying an additional 367 shares during the last quarter. Rational Advisors LLC raised its holdings in shares of Citigroup by 71.1% in the first quarter. Rational Advisors LLC now owns 592 shares of the company’s stock worth $32,000 after buying an additional 246 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Citigroup in the third quarter worth $25,000. Corsicana & Co. raised its holdings in shares of Citigroup by 314.5% in the second quarter. Corsicana & Co. now owns 659 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the last quarter. Finally, DB Wealth Management Group LLC raised its holdings in shares of Citigroup by 812.3% in the first quarter. DB Wealth Management Group LLC now owns 666 shares of the company’s stock worth $36,000 after buying an additional 593 shares during the last quarter. Hedge funds and other institutional investors own 71.46% of the company’s stock.

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).

Further Reading

Earnings History and Estimates for Citigroup (NYSE:C)

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