$1.45 Billion in Sales Expected for Citizens Financial Group, Inc. (CFG) This Quarter

Analysts expect Citizens Financial Group, Inc. (NYSE:CFG) to report $1.45 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Citizens Financial Group’s earnings, with estimates ranging from $1.45 billion to $1.46 billion. Citizens Financial Group reported sales of $1.36 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, January 19th.

According to Zacks, analysts expect that Citizens Financial Group will report full year sales of $1.45 billion for the current year, with estimates ranging from $5.67 billion to $5.68 billion. For the next year, analysts forecast that the company will post sales of $6.00 billion per share, with estimates ranging from $5.92 billion to $6.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Citizens Financial Group.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 20th. The bank reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year.

Several research analysts have issued reports on CFG shares. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, October 25th. Deutsche Bank AG restated a “hold” rating and issued a $36.00 price target (up previously from $34.00) on shares of Citizens Financial Group in a research report on Tuesday, September 26th. Sanford C. Bernstein upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. TheStreet upgraded shares of Citizens Financial Group from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $40.00 price target (down previously from $41.00) on shares of Citizens Financial Group in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $40.00.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Citizens Financial Group by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,188,129 shares of the bank’s stock valued at $1,897,753,000 after acquiring an additional 1,328,293 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Citizens Financial Group by 5.8% during the 2nd quarter. BlackRock Inc. now owns 45,150,226 shares of the bank’s stock valued at $1,610,961,000 after acquiring an additional 2,458,123 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Citizens Financial Group by 3.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,408,929 shares of the bank’s stock valued at $621,151,000 after acquiring an additional 581,232 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Citizens Financial Group by 14.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,470,644 shares of the bank’s stock valued at $434,393,000 after acquiring an additional 1,404,300 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Citizens Financial Group by 1.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 9,310,713 shares of the bank’s stock valued at $332,206,000 after acquiring an additional 119,788 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Shares of Citizens Financial Group (CFG) traded down $0.08 during trading hours on Monday, reaching $37.75. The company had a trading volume of 807,100 shares, compared to its average volume of 4,680,191. Citizens Financial Group has a 1 year low of $31.51 and a 1 year high of $39.75. The company has a market capitalization of $18,572.66, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 0.98.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.91%. The ex-dividend date was Tuesday, October 31st. Citizens Financial Group’s payout ratio is 29.15%.

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Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.

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

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