Market Update on C [September 25, 2013]

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Citigroup to pay $395 million to settle Freddie Mac mortgage claims[Reuters] – Citigroup Inc on Wednesday said it agreed to pay $395 million to Freddie Mac to resolve claims on potential flaws in roughly 3.7 million mortgages it sold to the housing finance company from 2000 to 2012. …

Citigroup, Inc. (C), currently valued at $149.80B, began trading this morning at $49.04.

A quick look at the market, the company’s traded between $48.67 to $49.54 with a one year range of $31.88 to $53.56.

C shares are currently priced at 10.05x this year’s forecasted earnings,
which makes them relatively inexpensive compared to the industry’s 13.80x forward p/e ratio.

And for passive income investors, the company pays shareholders $0.04 per share annually in dividends, yielding 0.10% .

Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $1.12 per share, which would be $0.06 better than the year-ago quarter but a $0.04 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.87 would be a $1.01 improvement when compared to the previous year’s annual results.

The quarterly earnings estimate is predicated on a consensus revenue forecast of $19.14 Billion. If reported, that would be a 37.20% increase over the year-ago quarter.

In terms of ratings, UBS upgraded (C) from Neutral to Buy (Mar 11, 2013).
Previously, Sterne Agee upgraded (C) from Neutral to Buy. JMP Securities downgraded (C) from Mkt Perform to Mkt Underperform.

When considering if perhaps the stock is under or overvalued, the average price target is $59.61, which is 21.55% above where the stock opened this morning.

Citigroup Inc. (NYSE:C), is a diversified financial services holding company, provides various financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, wealth management, and transaction services to consumers, corporations, governments, and institutions worldwide.


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