Citigroup Inc. Announces Quarterly Dividend of $0.53 (NYSE:C)

Citigroup Inc. (NYSE:C) declared a quarterly dividend on Wednesday, April 3rd, RTT News reports. Stockholders of record on Monday, May 6th will be given a dividend of 0.53 per share on Friday, May 24th. This represents a $2.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, May 3rd.

Citigroup has raised its dividend by an average of 0.7% annually over the last three years and has raised its dividend every year for the last 1 years. Citigroup has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citigroup to earn $7.15 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 29.7%.

Citigroup Stock Performance

NYSE C opened at $61.35 on Thursday. The company has a market cap of $117.50 billion, a P/E ratio of 18.15, a P/E/G ratio of 0.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50 day moving average price is $59.48 and its 200-day moving average price is $52.41. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $63.90.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the previous year, the business earned $1.86 EPS. Citigroup’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that Citigroup will post 5.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $80.00 target price on shares of Citigroup in a research report on Monday, April 1st. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Keefe, Bruyette & Woods upped their target price on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Oppenheimer reduced their target price on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.85.

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.