Citizens Financial Group (NYSE:CFG) Announces Earnings, Beats Estimates by $0.04 EPS
Citizens Financial Group (NYSE:CFG) released its quarterly results on Wednesday. The bank reported EPS of $1.17 for the quarter, beating analyst consensus estimates of $1.13 by $0.04, MarketWatch Earnings reports. Citizens Financial Group posted a net margin of 31.99% and a return on equity of 10.99%. The company posted revenue of $1.72 billion for the quarter, compared to analysts’ estimates of $1.66 billion. During the same period last year, the company earned earnings per share of $1.04. Citizens Financial Group’s revenue for the quarter increased by 0.8% compared to the same quarter last year.
NYSE: CFG opened at $52.16 on Friday. The company’s 50-day simple moving average is $49.58 and its 200-day simple moving average is $46.80. The company has a debt ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.89. Citizens Financial Group has a one-year low of $35.09 and a one-year high of $57.00. The company has a market capitalization of $22.23 billion, a PE ratio of 10.47, a P/E/G ratio of 0.57 and a beta of 1.61.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 11. Investors of record on Monday, January 31 will receive a dividend of $0.39 per share. The ex-date of this dividend is Friday, January 28. This represents an annualized dividend of $1.56 and a yield of 2.99%. Citizens Financial Group’s dividend payout ratio is currently 31.33%.
A number of stock analysts have recently commented on the stock. Citigroup moved shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and raised its price target for the stock from $53.00 to $65.00 in a research report from the Tuesday January 11. Barclays raised its price target on shares of Citizens Financial Group from $55.00 to $62.00 in a Monday, January 3 report. Morgan Stanley began covering shares of Citizens Financial Group in a report on Tuesday, January 11. They issued an “overweight” rating and a target price of $69.00 on the stock. Jefferies Financial Group raised its price target on shares of Citizens Financial Group from $47.00 to $53.00 and gave the company a “holding” rating in a Monday, October 11 report. Finally, JPMorgan Chase & Co. raised its price target on shares of Citizens Financial Group from $54.00 to $56.50 and gave the company an “overweight” rating in a Thursday, Jan. 6 report. Three analysts gave the stock a hold rating, twelve gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $53.90.
Company Profile Citizens Financial Group
Citizens Financial Group, Inc provides commercial banking services. It operates through the following segments: Consumer Banking and Business Banking. The Retail Banking segment includes deposit products, mortgages and home equity loans, student loans, auto financing, credit cards, business loans, and wealth management and investment services .
See also: Convertible shares
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