Somewhat Favorable News Coverage Somewhat Unlikely to Affect Citigroup (NYSE:C) Stock Price
Headlines about Citigroup (NYSE:C) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm rates the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Citigroup earned a media sentiment score of 0.09 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 45.642955127579 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have effected Accern’s analysis:
- Citigroup Inc. (NYSE:C) Now Covered by Wells Fargo & Company (americanbankingnews.com)
- Citigroup Inc. Trims Crown Castle International Corporation (CCI) Target Price to $96.00 – Newburgh Gazette (newburghgazette.com)
- Technical Reports on Banking Equities — Citigroup, Canadian Imperial Bank of Commerce, Comerica, and Mitsubishi … – Markets Insider (markets.businessinsider.com)
- Citigroup Is Focusing on This amid Lower Growth (finance.yahoo.com)
- Citigroup Inc. (NYSE:C) Expected to Post Earnings of $1.29 Per Share (americanbankingnews.com)
Shares of Citigroup (C) traded down 0.65% during mid-day trading on Wednesday, hitting $68.43. The company’s stock had a trading volume of 19,195,725 shares. Citigroup has a 1-year low of $44.51 and a 1-year high of $69.62. The stock has a market cap of $186.44 billion, a PE ratio of 13.70 and a beta of 1.48. The company has a 50-day moving average price of $66.26 and a 200-day moving average price of $61.34.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the business posted $1.24 EPS. Citigroup’s revenue was up 2.0% on a year-over-year basis. Analysts predict that Citigroup will post $5.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be paid a $0.32 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is 25.55%.
Citigroup announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
C has been the topic of a number of recent research reports. Keefe, Bruyette & Woods set a $69.00 target price on Citigroup and gave the stock a “buy” rating in a report on Thursday, June 8th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 target price on the stock. in a report on Monday, June 12th. Nomura restated a “buy” rating and issued a $69.00 target price on shares of Citigroup in a report on Monday, April 17th. BMO Capital Markets restated a “buy” rating and issued a $64.00 target price on shares of Citigroup in a report on Thursday, June 1st. Finally, Bank of America Corporation restated a “buy” rating and issued a $68.00 target price (up from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $68.04.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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