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

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

Citigroup Stock Up 1.1 %

Shares of Citigroup stock opened at $73.59 on Wednesday. The firm has a market cap of $139.18 billion, a PE ratio of 21.33, a P/E/G ratio of 0.80 and a beta of 1.43. The business’s 50 day simple moving average is $70.60 and its 200 day simple moving average is $65.22. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup has a 52-week low of $50.51 and a 52-week high of $74.29.

Citigroup Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Truist Financial initiated coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.13.

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.