Company Update: Citigroup Inc (NYSE:C) – Ex-Barclays, Citi FX traders sue for unfair dismissal in London

[Reuters – UK Focus] – Two former foreign exchange traders will this month sue their former employers Barclays (LSE: BARC.L – news) and Citigroup (NYSE: C – news) for unfair dismissal at a London court. Former Barclays FX trader Jack Murray is suing the bank and is scheduled to appear at the East London employment tribunal on January 28, according to court filings released on Wednesday. Carly McWilliams, a former FX trader at Citigroup in London, is scheduled to appear at the same court on January 25-28 with her claim against the US bank. Read more on this. Citigroup Inc. (C) , valued at $134.62B, began trading this morning at $47.28. Looking at today’s market, C one day range is $44.97 to $47.35 with the price of the stock fluctuating between $44.97 to $60.95 over the last 52 weeks. Priced at 8.62x this year’s forecasted earnings, C shares are relatively inexpensive compared to the industry’s 16.02x forward p/e ratio. And for passive income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.43%. According to a consensus of 25 analysts, the earnings estimate of $1.06 per share would be $1.00 better than the year-ago quarter and a $0.16 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $5.44, which would be a $3.24 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.87 Billion. If reported, that would be a 0.39% increase over the year-ago quarter. In terms of ratings, Portales Partners upgraded C from Underperform to Sector Perform (Jan 7, 2016). Previously, Morgan Stanley downgraded C from Overweight to Equal-Weight. The average price target for C shares by the analysts covering the stock is $63.78, which is 34.90% above where the stock opened this morning. See more in (NYSE:C) Similar Articles: Stock Update: Citigroup Inc (NYSE:C) – Citi Launches Citi Bike for Good to Support Three of New York City’s Leading Not-for-Profit Organizations Company Update: Citigroup Inc (NYSE:C) – Ex-Citi trader points finger at bosses for culture that allowed breaches Stock Update: Citigroup Inc (NYSE:C) – Former Citi trader tells court information-sharing was common practice