Somewhat Positive Press Coverage Somewhat Unlikely to Affect Citigroup (C) Stock Price
News stories about Citigroup (NYSE:C) have trended somewhat positive this week, according to Accern. The research group ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Citigroup earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.1782573141981 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Constellation Merger Sub Inc. Announces Pricing of Tender Offer (ih.advfn.com)
- Advance Auto Parts Inc (AAP) Downgraded to “Sell” at Citigroup Inc (igeeksmagz.com)
- Ex-Citi CEO Says 30% Of Bank Jobs At Risk From Technology (fa-mag.com)
- Concho Resources Inc. Announces Pricing of Senior Unsecured Notes (businesswire.com)
- Canada Has Best `Boring’ Banks in the World, Citi Says (bloomberg.com)
Citigroup (C) traded up 0.87% during trading on Wednesday, reaching $69.39. The company’s stock had a trading volume of 17,456,939 shares. Citigroup has a 52-week low of $45.16 and a 52-week high of $69.86. The firm has a 50 day moving average price of $67.76 and a 200-day moving average price of $63.36. The stock has a market cap of $189.06 billion, a price-to-earnings ratio of 13.89 and a beta of 1.47.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the company posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts expect that Citigroup will post $5.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is 25.55%.
Citigroup announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
A number of analysts have weighed in on C shares. BMO Capital Markets reiterated a “buy” rating and issued a $64.00 price target on shares of Citigroup in a research report on Thursday, June 1st. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $71.55 price target on the stock in a research report on Wednesday, June 7th. Keefe, Bruyette & Woods set a $69.00 price target on Citigroup and gave the company a “buy” rating in a research report on Thursday, June 8th. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and upped their price target for the company from $58.00 to $64.00 in a research report on Friday, June 9th. Finally, J P Morgan Chase & Co reiterated a “sell” rating on shares of Citigroup in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Citigroup presently has an average rating of “Buy” and an average target price of $68.99.
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In other news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were 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 in the company, valued at $5,239,853.50. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
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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