Citigroup (NYSE:C) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Citigroup (NYSE:C) released its quarterly earnings data on Friday. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13, Briefing.com reports. Citigroup had a net margin of 4.95% and a return on equity of 6.27%. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same period last year, the business earned $1.37 earnings per share. Citigroup’s revenue was up 3.6% compared to the same quarter last year.

Citigroup Stock Down 1.8 %

Shares of NYSE:C opened at $64.52 on Monday. The company has a market capitalization of $123.07 billion, a PE ratio of 18.07, a P/E/G ratio of 0.91 and a beta of 1.46. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup has a twelve month low of $38.17 and a twelve month high of $66.99. The firm has a 50 day simple moving average of $62.68 and a 200-day simple moving average of $59.00.

Institutional Trading of Citigroup

Several institutional investors have recently modified their holdings of C. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after acquiring an additional 164 shares during the period. NorthRock Partners LLC increased its holdings in shares of Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after acquiring an additional 165 shares during the period. Family Legacy Inc. increased its holdings in shares of Citigroup by 2.9% in the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock worth $400,000 after acquiring an additional 179 shares during the period. Accel Wealth Management increased its holdings in shares of Citigroup by 3.9% in the 1st quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock worth $311,000 after acquiring an additional 185 shares during the period. Finally, Fulton Bank N.A. increased its holdings in shares of Citigroup by 1.4% in the 2nd quarter. Fulton Bank N.A. now owns 13,984 shares of the company’s stock worth $887,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on C. Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Piper Sandler lifted their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Citigroup in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods lifted 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. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $65.66.

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.