Citigroup (C) to Release Quarterly Earnings on Tuesday

Citigroup (NYSE:C) will be announcing its earnings results before the market opens on Tuesday, October 15th. Analysts expect the company to announce earnings of $1.40 per share for the quarter. Investors that are interested in participating in the company’s earnings conference call can do so using this link.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. On average, analysts expect Citigroup to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Citigroup Stock Performance

Shares of NYSE C opened at $65.74 on Monday. The stock has a market capitalization of $125.42 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.74 and a beta of 1.44. Citigroup has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock’s fifty day simple moving average is $60.66 and its 200 day simple moving average is $61.88.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.41%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on C shares. Oppenheimer lifted their price objective on shares of Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Morgan Stanley upped their price objective on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

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.