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Saturday, July 14, 2012

Citigroup will release earning report july 16 2012

Citigroup will release earning report july 16 2012 : Expectations have dropped for Citigroup‘s (C) second quarter results in the month leading up to the company’s earnings announcement slated for Monday, July 16, 2012. The consensus analyst estimate has dropped from 99 cents a share to the current estimate of earnings of 89 cents a share.

What to Expect:
The current estimate is down 18.3% from the year-ago quarter, when the company reported earnings of $1.09 per share.

The consensus estimate has dipped over the past three months from $1. For the fiscal year, analysts are projecting earnings of $3.85 per share.

Analysts look for revenue to decrease 31% year-over-year to $18.93 billion for the quarter, after being $27.44 billion a year ago. For the year, revenue is expected to come in at $76.75 billion.

Trends to Watch For:
The company’s reported revenue has fallen in the last four quarters. In first quarter, revenue fell 4% to $26.3 billion. Prior to that, the figure declined 6.3% year-over-year in the fourth quarter of the last fiscal year, fell 0.3% in third quarter of the last fiscal year and slid 5.1% in the second quarter of the last fiscal year.

Net income has declined for each of the last two quarters. In the most recent quarter, profit dipped 2.3% year-over-year, and the figure dropped 27% in the fourth quarter of the last fiscal year.

Analyst Ratings:
The majority of analysts (65%) rate Citigroup as a buy. This compares favorably to the analyst ratings of its nearest 10 competitors, which average 53.6% buys.

Competitors:
Citigroup provides consumers, corporations, governments and institutions with financial products and services. One of Citigroup’s main competitors in the diversified financial services industry, JPMorgan Chase (JPM), will report earnings on July 13, 2012. Other competitors in the financials sector include: Bank of America (BAC), Wells Fargo & Company (WFC), and Morgan Stanley (MS).

Recent Price Movement:
Since April 12, 2012, the stock price has dipped 25.2% to $25.88 from $34.62

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