Citigroup Inc. Declares Quarterly Dividend of $0.01 (C)
Citigroup (NYSE:C) announced a quarterly dividend on Wednesday, July 16th, AmericanBankingNews.com reports. Shareholders of record on Monday, August 4th will be paid a dividend of 0.01 per share on Friday, August 22nd. This represents a $0.04 annualized dividend and a dividend yield of 0.08%.
A number of research firms have recently commented on C. Analysts at S&P Equity Research reiterated a “hold” rating on shares of Citigroup in a research note on Tuesday. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Citigroup in a research note on Tuesday. They now have a $51.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Citigroup from $67.00 to $68.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $59.05.
Shares of Citigroup (NYSE:C) traded up 1.08% on Wednesday, hitting $49.82. 23,595,942 shares of the company’s stock traded hands. Citigroup has a 52 week low of $45.18 and a 52 week high of $55.28. The stock has a 50-day moving average of $47.89 and a 200-day moving average of $48.6. The company has a market cap of $151.0 billion and a P/E ratio of 16.21. Citigroup also was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 40,034,926 shares, an increase of 11.8% from the June 13th total of 35,819,126 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 15,837,024 shares, the days-to-cover ratio is currently 2.5 days.
Citigroup (NYSE:C) last announced its earnings results on Monday, July 14th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.10 by $0.14. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $18.94 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Analysts expect that Citigroup will post $3.70 EPS for the current fiscal year.
Citigroup Inc (NYSE:C) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
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