Citizens Financial Group (CFG) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Citizens Financial Group (NYSE:CFG) posted its earnings results on Friday. The bank reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03, Briefing.com reports. Citizens Financial Group had a return on equity of 7.59% and a net margin of 26.72%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis.

Shares of CFG stock traded up $1.45 during trading hours on Friday, reaching $36.37. 6,619,841 shares of the company’s stock were exchanged, compared to its average volume of 4,783,310. Citizens Financial Group has a fifty-two week low of $34.88 and a fifty-two week high of $48.23. The firm has a market cap of $16.56 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.69 and a beta of 1.38. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.68.

A number of research analysts have recently commented on CFG shares. ValuEngine lowered Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, July 24th. Finally, Morgan Stanley cut their price target on Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $46.89.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Earnings History for Citizens Financial Group (NYSE:CFG)

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