Q4 2024 EPS Estimates for Citigroup Inc. (NYSE:C) Reduced by Seaport Res Ptn

Citigroup Inc. (NYSE:C) – Analysts at Seaport Res Ptn cut their Q4 2024 earnings per share (EPS) estimates for Citigroup in a research note issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the company will earn $1.24 per share for the quarter, down from their previous forecast of $1.26. The consensus estimate for Citigroup’s current full-year earnings is $5.79 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $1.90 EPS, Q3 2025 earnings at $1.83 EPS, Q4 2025 earnings at $1.64 EPS and FY2025 earnings at $7.35 EPS.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the prior year, the company posted $1.37 earnings per share. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis.

Several other equities analysts also recently commented on C. Royal Bank of Canada upped their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Oppenheimer upped their price objective on Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, BMO Capital Markets upped their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $69.06.

Citigroup Price Performance

Citigroup stock opened at $62.64 on Friday. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The business’s 50 day simple moving average is $60.61 and its 200 day simple moving average is $61.77. The company has a market cap of $119.48 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.69 and a beta of 1.44.

Institutional Investors Weigh In On Citigroup

Large investors have recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. boosted its stake in Citigroup by 355.9% during the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after buying an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares in the last quarter. Lazard Asset Management LLC raised its position in Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares in the last quarter. Capital World Investors raised its position in Citigroup by 9.1% during the fourth quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock valued at $215,398,000 after purchasing an additional 350,087 shares in the last quarter. Finally, BDF Gestion purchased a new stake in Citigroup during the second quarter valued at about $3,861,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.58%. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.