Market Update (NYSE:C): SIX Securities Services Selects Citi to Provide Custody for $230 Billion of Assets

[Business Wire] – Citi has been awarded a mandate from SIX Securities Services to provide custody and clearing services, associated mutual fund processing, and tax servicing for the U.S. market. This new mandate builds on the existing custody relationship between Citi and SIX Securities Services which includes fourteen other markets outside the U.S. Read more on this. Citigroup Inc. (C) , valued at $124.94B, started trading this morning at $42.36. During the trading session, C traded between $42.07 to $42.70 and has traded between $34.52 and $60.95 over the past year. Citigroup (C) shares are currently priced at 8.51x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.07x earnings multiple for the same period. The company pays shareholders $0.20 per share in dividend income per year, for a current yield of 0.47%. In a review of the consensus earnings estimate this quarter, 25 sell-side analysts are looking at $1.14 per share, which would be $0.37 worse than the year-ago quarter and a $0.36 sequential decrease. Investors should also note that the full-year EPS estimate of $4.99 is a $0.36 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $17.77 Billion. If realized, that would be a 10.30% decrease over the year-ago quarter. In terms of ratings, Atlantic Equities downgraded C from Overweight to Neutral (Mar 1, 2016). Previously, Portales Partners upgraded C from Underperform to Sector Perform. The average price target for C shares is $56.19, which is 32.65% 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 Market Update: Citigroup Inc (NYSE:C) – New Yorkers to Use Citi Bikes to “Light Up” Queens and Support the Mets on Their Championship Run Market Update (NYSE:C): Citi and NBC’s TODAY Announce Multi-Year Sponsorship and Launch Citi Concert Series on TODAY