Citigroup (C) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Citigroup (NYSE:C) announced its earnings results on Tuesday. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.09, Briefing.com reports. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same quarter last year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year.
Citigroup (NYSE:C) opened at $76.84 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup has a 52 week low of $55.23 and a 52 week high of $77.92. The company has a market cap of $203,170.00, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.23 and a beta of 1.56.
C has been the topic of several research analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $83.00 target price (up previously from $73.00) on shares of Citigroup in a research report on Monday, October 9th. They noted that the move was a valuation call. BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Wells Fargo & Co reissued a “buy” rating on shares of Citigroup in a research note on Monday, October 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $75.00 price target on shares of Citigroup in a research note on Wednesday, September 27th. Finally, Nomura raised their price target on shares of Citigroup from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $77.92.
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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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