Citigroup (NYSE:C) Posts Quarterly Earnings Results, Misses Expectations By $0.43 EPS

Citigroup (NYSE:C) announced its earnings results on Friday. The company reported $1.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.43), MarketWatch Earnings reports. The firm had revenue of $17.02 billion during the quarter, compared to analysts’ expectations of $16.78 billion. Citigroup had a net margin of 29.23% and a return on equity of 13.12%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 EPS.

Shares of C stock traded down $0.85 during trading hours on Friday, hitting $66.93. 35,900,175 shares of the company’s stock were exchanged, compared to its average volume of 22,555,908. The company has a market capitalization of $135.65 billion, a PE ratio of 6.26, a PEG ratio of 0.72 and a beta of 1.79. Citigroup has a 12-month low of $57.40 and a 12-month high of $80.29. The business’s 50 day simple moving average is $64.01 and its 200-day simple moving average is $68.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Shareholders of record on Monday, February 7th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, February 4th. Citigroup’s dividend payout ratio (DPR) is presently 19.07%.

A number of analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Citigroup from $86.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, January 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Citigroup in a report on Friday, December 17th. Morgan Stanley downgraded shares of Citigroup from an “overweight” rating to an “equal weight” rating and set a $82.00 price objective for the company. in a report on Monday, December 6th. BMO Capital Markets increased their target price on shares of Citigroup from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 15th. They noted that the move was a valuation call. Finally, Odeon Capital Group upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $69.25 target price for the company in a research report on Wednesday, December 15th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of “Buy” and a consensus price target of $79.77.

In related news, CEO Cantu Ernesto Torres sold 27,783 shares of Citigroup stock in a transaction on Tuesday, October 19th. The shares were sold at an average price of $72.50, for a total value of $2,014,267.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

An institutional investor recently raised its position in Citigroup stock. Keudell Morrison Wealth Management grew its holdings in shares of Citigroup Inc. (NYSE:C) by 19.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,696 shares of the company’s stock after buying an additional 1,089 shares during the period. Keudell Morrison Wealth Management’s holdings in Citigroup were worth $470,000 as of its most recent SEC filing. Institutional investors own 72.66% of the company’s stock.

About Citigroup

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

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Earnings History for Citigroup (NYSE:C)

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