Citigroup (NYSE:C) Issues Earnings Results

Citigroup (NYSE:C) announced its earnings results on Tuesday. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20, Briefing.com reports. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company’s revenue was up .9% on a year-over-year basis.

Citigroup Stock Performance

Shares of C opened at $66.01 on Tuesday. The company has a market cap of $125.91 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The firm has a 50-day moving average of $60.85 and a 200-day moving average of $61.90. Citigroup has a one year low of $38.17 and a one year high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.39%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI raised their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Oppenheimer upped their target price on shares of Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Finally, Royal Bank of Canada upped their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.33.

Citigroup Company Profile

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.