Company Update (NYSE:C): Brazil’s Itaú eyeing Citigroup’s Latin America assets

[Reuters – UK Focus] – Itaú Unibanco Holding SA is interested in assets that Citigroup Inc (NYSE: C – news) has put up for sale in Latin America, as Brazil’s largest bank by market value seeks opportunities to expand beyond its home turf, a senior executive said on Thursday. Any assets that Itaú could analyze for potential purchase are outside Brazil, said Ricardo Villela Marino, senior vice president in charge of Latin American operations. Read more on this. Citigroup Inc. (C) , with a current value of $118.44B, started the session at $41.30. Looking at the equity, the company’s one day range is $39.95 to $41.48 with a trailing 52-week range being $34.52 to $60.95. C shares are currently priced at 8.60x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.30x earnings multiple. And for income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.48%. According to a consensus of 24 analysts, the earnings estimate of $1.09 per share would be $0.42 worse than the year-ago quarter and a $0.41 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.87 would be a $0.48 worse 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 $17.62 Billion. If realized, that would be a 11.06% 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. With the above information in mind, readers should note that the average price target is $56.27, which is 36.25% above where the stock opened this morning. See more in (NYSE:C) Similar Articles: Market Update (NYSE:C): SIX Securities Services Selects Citi to Provide Custody for $230 Billion of Assets Market Update (NYSE:C): Today’s Review on Money Center Banks Equities — Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase Company Update: Citigroup Inc (NYSE:C) – Ex-Barclays, Citi FX traders sue for unfair dismissal in London