Citigroup (C) : Q116 Earnings Whisper

Citigroup Inc. (C) is scheduled to release Q116 earnings before the open today. The Street is looking for EPS of $1.03 and revenue of $17.46 billion. Last quarter, the New York City-based banking giant posted a positive earnings surprise of 0.95%, reporting EPS of $1.06, $0.01 better than the Street’s consensus estimate of $1.05. Revenue increased 3.93% year-over-year to $18.5 billion versus the $17.8 billion reported. Meanwhile, EarningsWhisper.com reports a whisper number of $1.19 per share.

On valuation metrics, Citi shares are currently priced at 8.33x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 13.33x earnings multiple. The name is currently valued at $132.30 billion and has a median Street price target of $55.00 with a high target of $71.00.

Citigroup Inc. is down 15.13% year-over-year, compared with a 0.08% gain in the S&P 500.

Update: Citigroup Inc. reported first-quarter 2016 EPS of $1.10 before the opening bell Friday, compared to the consensus estimate of $1.05. Revenues declined 11.1% from last year to $17.56 billion. Analysts expected revenues of $17.44 billion. The stock is currently up $0.61 to $45.59 on 26.8 million shares.

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