Market Update: Citigroup Inc (NYSE:C) – Citigroup reaches $23 mln ‘ice breaker’ yen Libor settlement

[Reuters – UK Focus] – Citigroup Inc will pay $23 million to end private U.S. antitrust litigation claiming that it conspired to manipulate the yen Libor and Euroyen Tibor benchmark interest rates. Lawyers for the plaintiff … Read more on this. Citigroup Inc. (C) , with a current market cap of $119.20B, started trading this morning at $41.86. Looking at the equity, the company’s one day range is $40.28 to $41.87 with a trailing 52-week range being $39.44 to $60.95. C shares are currently priced at 7.87x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 11.91x forward p/e ratio. And for income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.47%. In a review of the consensus earnings estimate this quarter, 24 sell-side analysts are looking at $1.38 per share, which would be $0.13 worse than the year-ago quarter and a $0.12 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $5.40 would be a $0.05 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $18.77 Billion. If reported, that would be a 5.25% decrease over the year-ago quarter. Recently, Portales Partners upgraded C from Underperform to Sector Perform (Jan 7, 2016). Previously, Morgan Stanley downgraded C from Overweight to Equal-Weight. When considering if perhaps the stock is under or overvalued, the average price target is $59.46, which is 42.04% above where the stock opened this morning. See more in (NYSE:C) Similar Articles: Market Update (NYSE:BAC): BofA reaches $335 mln settlement over mortgages, MERS Market Update: Citigroup Inc (NYSE:C) – Citigroup Announces Expiration and Final Tender Results of Offers to Purchase Specified Series of Outstanding Notes Company Update: Citigroup Inc (NYSE:C) – Citigroup to sell alternative investor services business