Company Update: Citigroup Inc (NYSE:C) – AmEx to close sale of Costco card portfolio to Citi by June

[Reuters] – Credit card issuer American Express Co said on Monday it would close a previously announced deal to sell its Costco U.S. co-branded card portfolio to Citigroup Inc by June. AmEx, which was replaced by … Read more on this. Citigroup Inc. (C) , with a current market cap of $117.00B, opened this morning at $39.43. During the trading session, C traded between $39.04 to $39.74 and has traded between $34.52 and $60.95 over the past 12 months. C shares are currently priced at 7.47x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 10.74x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $0.20 per share annually in dividends, yielding 0.52%. According to a consensus of 24 analysts, the earnings estimate of $1.35 per share would be $0.16 worse than the year-ago quarter and a $0.15 sequential decrease. Investors should also note that the full-year EPS estimate of $5.29 is a $0.06 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $18.54 Billion. If reported, that would be a 6.41% 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. With the above information in mind, readers should note that the average price target is $58.23, which is 47.68% above where the stock opened this morning. See more in (NYSE:C) Similar Articles: Market Update (NYSE:C): TBC Corporation and Citi Retail Services Renew Long-Term Credit Card Agreement Company Update: Citigroup Inc (NYSE:C) – Ex-Barclays, Citi FX traders sue for unfair dismissal in London 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