Citigroup Inc. (C) Releases Earnings Results, Beats Estimates By $0.10 EPS
Citigroup Inc. (NYSE:C) issued its quarterly earnings results on Thursday. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10, Briefing.com reports. The company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share.
Shares of Citigroup (NYSE:C) traded up 0.113% during midday trading on Thursday, reaching $75.025. The company’s stock had a trading volume of 4,580,924 shares. The stock has a 50-day moving average of $70.52 and a 200 day moving average of $65.19. The company has a market cap of $204.41 billion, a price-to-earnings ratio of 15.020 and a beta of 1.45. Citigroup has a 12 month low of $47.54 and a 12 month high of $76.14.
C has been the topic of a number of research analyst reports. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Credit Suisse Group reissued a “buy” rating and set a $73.00 price target on shares of Citigroup in a report on Wednesday, September 13th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $73.42 price target on the stock in a report on Monday, June 26th. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $68.00 price target on shares of Citigroup in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Citigroup has a consensus rating of “Buy” and an average target price of $74.17.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.
Citigroup announced that its Board of Directors has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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