Citizens Financial Group Inc (CFG) Expected to Post Quarterly Sales of $1.61 Billion

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Brokerages expect that Citizens Financial Group Inc (NYSE:CFG) will announce sales of $1.61 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Citizens Financial Group’s earnings. The lowest sales estimate is $1.60 billion and the highest is $1.62 billion. Citizens Financial Group posted sales of $1.48 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.8%. The business is scheduled to report its next earnings results on Friday, January 18th.

According to Zacks, analysts expect that Citizens Financial Group will report full-year sales of $6.14 billion for the current financial year, with estimates ranging from $6.14 billion to $6.15 billion. For the next financial year, analysts anticipate that the company will post sales of $6.53 billion, with estimates ranging from $6.48 billion to $6.58 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Citizens Financial Group.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share.

Several research analysts have recently issued reports on CFG shares. ValuEngine cut shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, July 24th. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, September 18th. Bank of America upgraded shares of Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 target price for the company in a report on Monday. Finally, Macquarie upgraded shares of Citizens Financial Group from an “underperform” rating to a “neutral” rating and set a $38.00 target price for the company in a report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.09.

In other Citizens Financial Group news, Director Charles John Koch bought 14,000 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, October 23rd. The stock was purchased at an average cost of $36.32 per share, for a total transaction of $508,480.00. Following the completion of the acquisition, the director now owns 49,937 shares of the company’s stock, valued at approximately $1,813,711.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.22% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. First Mercantile Trust Co. acquired a new position in Citizens Financial Group in the 2nd quarter worth approximately $102,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Citizens Financial Group by 8,430.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,815 shares of the bank’s stock worth $110,000 after purchasing an additional 2,782 shares during the period. TRUE Private Wealth Advisors acquired a new position in Citizens Financial Group in the 3rd quarter worth approximately $113,000. Qube Research & Technologies Ltd boosted its stake in Citizens Financial Group by 120.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 5,120 shares of the bank’s stock worth $199,000 after purchasing an additional 2,795 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Citizens Financial Group by 1,477.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 84,021 shares of the bank’s stock worth $202,000 after purchasing an additional 78,694 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Citizens Financial Group stock traded down $0.03 on Friday, hitting $35.86. The company had a trading volume of 5,802,118 shares, compared to its average volume of 4,615,571. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.00 and a quick ratio of 0.98. The stock has a market capitalization of $16.96 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.70 and a beta of 1.38. Citizens Financial Group has a 52 week low of $34.88 and a 52 week high of $48.23.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, October 30th. Citizens Financial Group’s payout ratio is 41.86%.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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

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