Citigroup (NYSE:C) Announces Quarterly Earnings Results

Citigroup (NYSE:C) posted its quarterly earnings results on Wednesday. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12, Briefing.com reports. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS.

Citigroup Stock Performance

Shares of C stock opened at $73.59 on Wednesday. Citigroup has a 52-week low of $50.51 and a 52-week high of $74.29. The stock’s 50-day moving average price is $70.60 and its 200 day moving average price is $65.22. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $139.18 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.04%. Citigroup’s dividend payout ratio is currently 64.93%.

Analyst Ratings Changes

A number of equities research analysts have commented on C shares. Piper Sandler increased their price objective on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upped their price target on Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley cut their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.13.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.