Citigroup (NYSE:C – Get Free Report) announced its quarterly earnings results on Friday. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29, Briefing.com reports. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. Citigroup’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $1.86 EPS. Citigroup updated its FY 2024 guidance to EPS.
Citigroup Stock Down 1.7 %
NYSE:C opened at $59.68 on Friday. The firm has a market capitalization of $114.30 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The stock has a 50 day moving average of $57.91 and a 200-day moving average of $50.62. Citigroup has a 52 week low of $38.17 and a 52 week high of $63.90. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.52.
Citigroup Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.
Hedge Funds Weigh In On Citigroup
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on C shares. Wolfe Research raised Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, January 3rd. Barclays boosted their price target on Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their price target on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. HSBC boosted their price objective on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Evercore ISI boosted their price objective on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.56.
Check Out Our Latest Stock Report on C
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.
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