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

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

Citigroup Stock Performance

Shares of NYSE C opened at $59.68 on Monday. The company’s fifty day moving average price is $57.91 and its 200 day moving average price is $50.69. Citigroup has a 1 year low of $38.17 and a 1 year high of $63.90. The company 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. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup Announces Dividend

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

Hedge Funds Weigh In On Citigroup

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on C shares. Jefferies Financial Group upped their price target on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, January 3rd. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.56.

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.