Citigroup, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Citigroup, Inc. (NYSE:C) will unveil its latest earnings on Monday, October 17, 2011. Citigroup is a financial services holding company that 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 82 cents per share, a rise of 2.5% 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 down. It also has dropped from 94 cents during the last month. For the year, analysts are projecting net income of $3.87 per share, a rise of 10.6% from last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of $1.09 per share against a mean estimate of net income of 96 cents, and the quarter before, the company exceeded forecasts by 10 cents with profit of $1 versus a mean estimate of net income of 90 cents.

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Wall St. Revenue Expectations: On average, analysts predict $19.51 billion in revenue this quarter, a decline of 5.9% from the year ago quarter. Analysts are forecasting total revenue of $79.32 billion for the year, a decline of 8.4% 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.

A Look Back: In the second quarter, profit rose 23.9% to $3.34 billion ($1.09 a share) from $2.7 billion (90 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 5.1% to $27.44 billion from $28.9 billion.

Key Stats:

Revenue has fallen in the past two quarters. In the first quarter, the figure fell 14.9%.

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 July 18, 2011 to October 11, 2011, the stock price had fallen $9.89 (-26.2%) from $37.73 to $27.84. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 8.8% (+$3.47) over that span. It saw one of its worst periods between August 15, 2011 and August 22, 2011 when shares fell for six-straight days, falling 16.7% (-$5.21) over that span. Shares are down $19.44 (-41.1%) year to date.

(Source: Xignite Financials)

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