Citigroup (NYSE:C) Announces Quarterly Earnings Results

Citigroup (NYSE:C) released its earnings results on Friday. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.10 by $0.48, Briefing.com reports. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS.

Citigroup Stock Up 0.9 %

C opened at $60.71 on Friday. Citigroup has a 1-year low of $38.17 and a 1-year high of $63.90. The stock’s fifty day simple moving average is $57.82 and its 200 day simple moving average is $50.42. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.52. The stock has a market cap of $116.28 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 53.13%.

Institutional Investors Weigh In On Citigroup

A number of large investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC grew its holdings in Citigroup by 20.3% in the 1st quarter. Ancora Advisors LLC now owns 3,089 shares of the company’s stock valued at $145,000 after buying an additional 521 shares in the last quarter. GeoWealth Management LLC acquired a new position in Citigroup in the 1st quarter valued at $131,000. Atlas Capital Advisors LLC grew its holdings in Citigroup by 121.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,432 shares of the company’s stock valued at $112,000 after buying an additional 1,333 shares in the last quarter. State of Wyoming acquired a new position in Citigroup in the 2nd quarter valued at $109,000. Finally, Main Street Group LTD acquired a new position in Citigroup in the 4th quarter valued at $94,000. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on C shares. Barclays boosted their target price on Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company restated an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a research note on Monday, April 1st. Evercore ISI boosted their target price on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, BMO Capital Markets cut Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $62.56.

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.