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  • Citigroup Inc. (NYSE:C) - 3rd Quarter Earnings Preview

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    Monday Oct. 4, 2010 at 11:53 am EST
    3rd Quarter Earnings Preview for Citigroup Inc. (NYSE:C) 
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    Citigroup Inc. is scheduled to report the earning results for the 3rd quarter 2010 on October 18th at 8 am EST. Citigroup's earnings can get be hurt by a weaker US economy and the $485 billion worth of troubled assets still residing in its run-off portfolios. The government is planning to sell the $5.1 billion worth Citi stocks (about 17% of total shares outstanding) after the first round of sales that did not seem to hurt the stock. But this can result in continued under performance by Citi Shares. On July 16, 2010 Citigroup Inc. reported the 2nd quarter profit of $0.09/share, which was its second straight profitable quarter after back-to-back losses since 3rd quarter of 2007.

    For the 3rd quarter of 2010, the average analysts estimate for Citigroup Inc. (NYSE:C) earnings is 0.07$/share with a range of $0.04-$0.11 per share. The average total earning per share for full year for 2010 is around $0.39 per share with the range from $0.32 to $0.45 per share. The average analysts estimate for the 3rd quarter revenue is $21.38 billion with the high estimate being $23.16  billion and the low at $20.21 billion. Growth estimate for the current quarter are 125% compared to 95% for the sector and 31% for the S & P 500. Citigroup Inc. Shares are trading Flat on Monday near $4.07.

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