Citigroup (NYSE:C) Announces Earnings Results

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

Citigroup Stock Performance

NYSE C opened at $73.59 on Wednesday. Citigroup has a 1 year low of $50.51 and a 1 year high of $74.29. The firm has a market capitalization of $139.18 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm’s 50 day simple moving average is $70.60 and its 200 day simple moving average is $65.22.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 (DPR) is presently 64.93%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on C shares. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised their target price on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Oppenheimer lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Evercore ISI upped their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.