Market Update (NYSE:C): MOVES-Citigroup names new heads of US high yield and loan trading

[Reuters] – By Kristen Haunss NEW YORK, May 10 – Citigroup has named Faraz Naseer head of US high-yield trading, and Fran Sutter and Michael Schechter co-heads of US loan trading, sources said. The changes follow … Read more on this. Citigroup Inc. (C) , currently valued at $131.60B, opened this morning at $44.34. During the trading session, C traded between $44.11 to $44.90 with its 52-week range being $34.52 to $60.95. Citigroup (C) shares are currently priced at 9.26x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.61x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $0.20 per share annually in dividends, yielding 0.45%. Consensus earnings for the current quarter by the 23 sell-side analysts covering the stock is an estimate of $1.19 per share, which would be $0.32 worse than the year-ago quarter and a $0.14 sequential decrease. Investors should also note that the full-year EPS estimate of $4.74 is a $0.61 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.85 Billion. If reported, that would be a 6.84% decrease over the year-ago quarter. More recently, Keefe Bruyette downgraded C from Outperform to Mkt Perform (Apr 18, 2016). Previously, Atlantic Equities downgraded C from Overweight to Neutral. Investors should keep in mind is that the average price target is $56.42, which is 27.24% above where the stock opened this morning. See more in (NYSE:C) Similar Articles: Company Update: Citigroup Inc (NYSE:C) – Citigroup head of spot FX trading Bibbey resigns -sources Market Update (NYSE:C): MOVES- Citigroup, Raymond James, Marsh, Hiscox Market Update: Citigroup Inc (NYSE:C) – Citigroup reaches $23 mln ‘ice breaker’ yen Libor settlement
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