Citigroup Inc. (NYSE:C) Plans $0.56 Quarterly Dividend

by · The Markets Daily

Citigroup Inc. (NYSE:C – Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Investors of record on Monday, November 4th will be given a dividend of 0.56 per share on Friday, November 22nd. This represents a $2.24 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Monday, November 4th.

Citigroup has increased its dividend payment by an average of 0.7% per year over the last three years. Citigroup has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $7.12 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 31.5%.

Citigroup Stock Performance

Citigroup stock traded down $0.11 during trading hours on Thursday, reaching $62.99. 11,418,446 shares of the company were exchanged, compared to its average volume of 14,390,273. The firm has a market cap of $120.15 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average of $61.62 and a 200 day moving average of $61.95. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81.

Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, research analysts anticipate that Citigroup will post 5.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

C has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Piper Sandler raised their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets raised their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Bank of America raised their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.06.

Check Out Our Latest Stock Report on C

Citigroup Company Profile

(Get Free Report)

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.

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