Citigroup (NYSE:C) Issues Earnings Results, Beats Expectations By $0.29 EPS

Citigroup (NYSE:C) issued its earnings results on Friday. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29, Briefing.com reports. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter last year, the company earned $1.86 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Citigroup updated its FY 2024 guidance to EPS.

Citigroup Stock Performance

Shares of C opened at $59.68 on Friday. Citigroup has a one year low of $38.17 and a one year high of $63.90. The company has a 50-day simple moving average of $57.91 and a two-hundred day simple moving average of $50.62. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $114.30 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on C. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Jefferies Financial Group boosted their price objective on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $46.00 to $65.00 in a research report on Tuesday, January 30th. Finally, BMO Capital Markets lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.56.

Institutional Investors Weigh In On Citigroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carmel Capital Partners LLC purchased a new position in shares of Citigroup during the third quarter valued at approximately $25,000. Orion Capital Management LLC purchased a new position in Citigroup during the fourth quarter valued at $26,000. GHP Investment Advisors Inc. boosted its stake in Citigroup by 73.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after purchasing an additional 290 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in Citigroup in the first quarter worth about $28,000. Finally, AlphaMark Advisors LLC lifted its stake in shares of Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.