Zacks: Brokers Expect Citizens Financial Group, Inc. (NYSE: CFG) to Show Quarterly Sales of $ 1.66 Billion
Wall Street brokerages forecast Citizens Financial Group, Inc. (NYSE: CFG) to report $ 1.66 billion in revenue for the current quarter, according to Zacks. Four analysts provided earnings estimates for Citizens Financial Group, with the lowest sales estimate at $ 1.65 billion and the highest estimate at $ 1.67 billion. Citizens Financial Group posted sales of $ 1.71 billion in the same quarter last year, suggesting a negative year-over-year growth rate of 2.9%. The company is expected to announce its next earnings report before the market opens on Wednesday, January 19.
Zacks says analysts expect Citizens Financial Group to report annual revenue of $ 6.59 billion for current fiscal year, with estimates ranging from $ 6.58 billion to $ 6.60 billion . For the next fiscal year, analysts predict the company will post revenue of $ 7.36 billion, with estimates ranging from $ 7.05 billion to $ 7.57 billion. Zacks’ sales calculations are an average based on a survey of analysts who provide coverage for Citizens Financial Group.
Citizens Financial Group (NYSE: CFG) last reported its quarterly results on Tuesday, October 19. The bank reported earnings per share (EPS) of $ 1.18 for the quarter, beating the Zacks’ consensus estimate of $ 1.16 by $ 0.02. The company posted revenue of $ 1.66 billion for the quarter, compared to analysts’ expectations of $ 1.64 billion. Citizens Financial Group had a net margin of 31.99% and a return on equity of 10.99%. In the same quarter of the previous year, the company posted $ 0.73 in EPS.
CFG has been the subject of a number of recent analyst reports. Jefferies Financial Group increased its target price on Citizens Financial Group from $ 47.00 to $ 53.00 and gave the stock a “hold” rating in a research report on Monday, October 11. Morgan Stanley raised its target price on Citizens Financial Group from $ 61.00 to $ 69.00 and rated the stock “overweight” in a research report published on Monday, December 6. Four equity research analysts rated the stock with a conservation rating, eleven gave the company’s stock a buy rating, and one gave the company’s stock a high buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $ 51.12.
Several large investors have recently changed their positions in the stock. UBS Asset Management Americas Inc. increased its stake in Citizens Financial Group shares by 3.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,256,894 shares of the bank valued at $ 106,029,000 after acquiring an additional 69,112 shares during the period. JB Capital LLC purchased a new position in Citizens Financial Group in the third quarter valued at approximately $ 338,000. Liontrust Investment Partners LLP purchased a new position in Citizens Financial Group in the third quarter valued at approximately $ 8,121,000. Personal CFO Solutions LLC increased its stake in Citizens Financial Group by 6.1% in the 3rd quarter. Personal CFO Solutions LLC now owns 7,317 shares of the bank valued at $ 344,000 after purchasing an additional 418 shares during the period. Finally, Gyon Technologies Capital Management LP purchased a new position in Citizens Financial Group in the third quarter for a value of approximately $ 2,246,000. Institutional investors hold 91.26% of the company’s shares.
Shares of Citizens Financial Group opened at $ 47.25 on Friday. Citizens Financial Group has a one-year low at $ 34.92 and a one-year high at $ 51.54. The company’s 50-day moving average is $ 47.99 and its 200-day moving average is $ 46.04. The company has a debt to equity ratio of 0.32, a current ratio of 0.91, and a quick ratio of 0.89. The stock has a market cap of $ 20.14 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 0.42, and a beta of 1.62.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 12. Investors of record on Friday, October 29, received a dividend of $ 0.39 per share. The ex-dividend date of this dividend was Thursday, October 28. This represents a dividend of $ 1.56 on an annualized basis and a dividend yield of 3.30%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 31.33%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is engaged in the provision of commercial banking services. It operates in the following segments: Consumer banking and Commercial banking. The Personal Banking segment includes deposit products, mortgage and home equity loans, student loans, auto financing, credit cards, business loans, and wealth and investment management services.
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