Citigroup (NYSE:C) Releases Quarterly Earnings Results

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

Citigroup Stock Performance

NYSE:C opened at $66.01 on Tuesday. The company has a market cap of $125.91 billion, a P/E ratio of 18.49, a P/E/G ratio of 0.74 and a beta of 1.44. The firm’s 50 day moving average is $60.85 and its two-hundred day moving average is $61.90. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.39%. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analyst Ratings Changes

Several research firms have recently commented on C. Piper Sandler raised their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. The Goldman Sachs Group decreased their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Evercore ISI increased their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Finally, Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.