Citizens Financial Group Inc (NYSE: CFG) Stock Forecast 2024: Profitable With Bullish Signals

In the last trading session, 3.91 million shares of the Citizens Financial Group Inc (NYSE:CFG) were traded, and its beta was 1.36. Most recently the company’s share price was $35.64, and it changed around -$0.65 or -1.79% from the last close, which brings the market valuation of the company to $16.34B. CFG currently trades at a discount to its 52-week high of $36.35, offering almost -1.99% off that amount. The share price’s 52-week low was $22.77, which indicates that the current value has risen by an impressive 36.11% since then. We note from Citizens Financial Group Inc’s average daily trading volume that its 10-day average is 4.28 million shares, with the 3-month average coming to 5.90 million.

Citizens Financial Group Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.04. If we narrow it down even further, the data shows that 2 out of 23 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 10 recommended CFG as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Citizens Financial Group Inc is expected to report earnings per share of $0.75 for the current quarter.

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Citizens Financial Group Inc (NYSE:CFG) trade information

Instantly CFG has showed a red trend with a performance of -1.79% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 7.54% year-to-date, but still up 1.39% over the last five days. On the other hand, Citizens Financial Group Inc (NYSE:CFG) is 13.54% up in the 30-day period. We can see from the shorts that 20.0 million shares have been sold at a short interest cover period of 3.17 day(s).

The consensus price target as assigned by Wall Street analysts is $49, which translates to bulls needing to increase their stock price by 27.27% from its current value. Analyst projections state that CFG is forecast to be at a low of $33 and a high of $65.

Citizens Financial Group Inc (CFG) estimates and forecasts

Citizens Financial Group Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 35.26 percent over the past six months and at a 2.24% annual growth rate that is well above the industry average of -12.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -25.00% in revenue this quarter, and will report a decrease of -15.20% in the next quarter. The year-over-year growth rate is expected to be -4.20%, down from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $1.96 billion in revenue for the current quarter. 15 analysts expect Citizens Financial Group Inc to make $1.95 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.13 billion and $2.09 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -8.00%. Forecasts for the next quarter put sales growth at -6.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -2.34%. Citizens Financial Group Inc earnings are expected to increase by 3.14% in 2024, but the outlook is positive 0.85% per year for the next five years.

CFG Dividends

Citizens Financial Group Inc’s next quarterly earnings report is expected to be released on April 17. The annual dividend yield of the stock is 4.71 percent and its annual dividend per share was 1.68. It is important to note, however, that the 4.71% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Citizens Financial Group Inc (NYSE:CFG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.65% of Citizens Financial Group Inc shares, and 97.41% of them are in the hands of institutional investors. The stock currently has a share float of 98.05%. Citizens Financial Group Inc stock is held by 989 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 12.79% of the shares, which is about 60.39 million shares worth $1.58 billion.

Vanguard Group Inc, with 12.01% or 56.74 million shares worth $1.48 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Washington Mutual Investors Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 14.35 million shares worth $374.35 million, making up 3.04% of all outstanding shares. On the other hand, Washington Mutual Investors Fund held roughly 13.81 million shares worth around $369.99 million, which represents about 2.92% of the total shares outstanding.