Citigroup (NYSE:C) Releases Earnings Results, Beats Expectations By $0.12 EPS

Citigroup (NYSE:C) posted its quarterly earnings results on Wednesday. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12, Briefing.com reports. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis.

Citigroup Stock Up 1.1 %

NYSE:C opened at $73.59 on Wednesday. Citigroup has a 52 week low of $50.51 and a 52 week high of $74.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock’s fifty day moving average is $70.60 and its two-hundred day moving average is $65.22. The stock has a market capitalization of $139.18 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.04%. Citigroup’s payout ratio is 64.93%.

Analyst Ratings Changes

A number of research firms have weighed in on C. Piper Sandler raised their target price on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI upped their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Company Profile

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.