Citigroup, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Citigroup, Inc. (NYSE:C) will unveil its latest earnings on Friday, July 15, 2011. Citigroup Inc. is a financial services holding company which provides corporations, governments, and consumers with a broad range of financial products and services.

Citigroup, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 97 cents per share, a rise of 7.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.01. Between one and three months ago, the average estimate moved up, but has dropped from $1.02 during the last month. For the year, analysts are projecting net income of $4.13 per share, a rise of 18% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported profit of $1 per share against a mean estimate of net income of 90 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 40 cents.

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Wall St. Revenue Expectations: On average, analysts predict $19.94 billion in revenue this quarter, a decline of 9.7% from the year ago quarter. Analysts are forecasting total revenue of $79.88 billion for the year, a decline of 7.8% from last year’s revenue of $86.6 billion.

Analyst Ratings: Analysts are bullish on this stock with 16 analysts rating it as a buy, two rating it as a sell and four rating it as a hold.

Key Stats:

Revenue fell in the first quarter after seeing a rise the quarter before. Revenue dropped 14.9% to $27.41 billion in the first quarter from the year earlier. In the fourth quarter of the last fiscal year, revenue rose 94.3%.

Competitors to Watch: Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), Morgan Stanley (NYSE:MS), Barclays PLC (NYSE:BCS), Goldman Sachs Group, Inc. (NYSE:GS), U.S. Bancorp (NYSE:USB), UBS AG (NYSE:UBS), Deutsche Bank AG (NYSE:DB), and Royal Bank of Scotland Group plc (NYSE:RBS).

Stock Price Performance: During April 13, 2011 to July 11, 2011, the stock price had fallen $5.20 (-11.6%) from $44.99 to $39.79. The stock price saw one of its best stretches over the last year between May 10, 2011, and May 16, 2011, when shares rose for five-straight days, rising 7.3% (+$3.01) over that span. It saw one of its worst periods between June 23, 2011, and July 1, 2011, when shares fell for seven-straight days, falling 8.1% (-$3.47) over that span. Shares are down $7.50 (-15.9%) year to date.

(Source: Xignite Financials)

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