Citigroup (NYSE:C) Releases Earnings Results, Beats Estimates By $0.29 EPS

Citigroup (NYSE:C) announced its earnings results on Friday. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29, Briefing.com reports. The business had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. Citigroup updated its FY 2024 guidance to EPS.

Citigroup Trading Down 1.7 %

NYSE C opened at $59.68 on Monday. Citigroup has a 12 month low of $38.17 and a 12 month high of $63.90. The company has a 50-day moving average of $57.91 and a 200-day moving average of $50.69. 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 company has a market cap of $114.30 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.93 and a beta of 1.52.

Citigroup Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on C shares. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, January 3rd. Daiwa Capital Markets upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Monday, December 18th. Jefferies Financial Group lifted their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Oppenheimer decreased their target price on shares of Citigroup from $95.00 to $88.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $62.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Carmel Capital Partners LLC acquired a new position in shares of Citigroup during the 3rd quarter valued at about $25,000. Orion Capital Management LLC acquired a new stake in Citigroup during the 4th quarter worth approximately $26,000. GHP Investment Advisors Inc. increased its position in Citigroup by 73.8% during 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 acquired a new stake in Citigroup during the 1st quarter worth approximately $28,000. Finally, AlphaMark Advisors LLC increased its position in Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

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.