Citizens Financial Q2 revenue beats estimates, net income up
CFG•Analyst coverage and valuation
The current average analyst rating on the shares is buy, with 16 strong buy or buy ratings, 3 hold ratings, and no sell or strong sell ratings.
The average consensus recommendation for the banks peer group is buy. Wall Street's median 12-month price target for Citizens Financial Group Inc is $77.50, about 9% above its July 15 closing price of $71.12.
The stock recently traded at 12 times the next 12-month earnings versus a P/E of 11 three months ago.
Key reported metrics and outlook
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $2.28 bln | $2.25 bln (14 analysts) |
| Q2 EPS | $1.30 | ||
| Q2 Net Income | $587 mln | ||
| Q2 Net Interest Income | $1.63 bln | ||
| Q2 CET1 Capital Ratio | 10.40% | ||
| Q2 Credit Loss Provision | $134 mln |
The company did not provide specific quantitative guidance for the current quarter or full year in the press release.
Quarterly results beat revenue estimates
Citizens Financial Group said second-quarter revenue rose and beat analyst expectations.
Net income climbed 35% year over year, and earnings per share rose 41% year over year.
