Citigroup (C) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Citigroup Inc (NYSE:C) posted its quarterly earnings data on Monday. The financial services provider reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09, MarketWatch Earnings reports. The company had revenue of $18.58 billion during the quarter, compared to analyst estimates of $18.56 billion. Citigroup had a net margin of 18.58% and a return on equity of 9.93%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.68 earnings per share.
Shares of NYSE:C traded up $0.40 during midday trading on Tuesday, reaching $67.78. 2,496,116 shares of the company were exchanged, compared to its average volume of 14,761,898. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.24. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.30. The firm has a market cap of $173.33 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.80 and a beta of 1.68.
In other Citigroup news, insider Michael Whitaker sold 7,000 shares of Citigroup stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total value of $442,680.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider W. Bradford Hu sold 5,420 shares of Citigroup stock in a transaction on Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several research firms have recently commented on C. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. HSBC set a $76.00 price target on shares of Citigroup and gave the company a “buy” rating in a research note on Thursday, April 4th. BMO Capital Markets increased their price target on shares of Citigroup to $93.00 and gave the company an “outperform” rating in a research note on Monday. Credit Suisse Group reissued an “outperform” rating and set a $80.00 price target on shares of Citigroup in a research note on Tuesday, January 15th. Finally, Odeon Capital Group began coverage on shares of Citigroup in a research note on Wednesday, March 27th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $80.11.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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