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

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors of record on Tuesday, November 5th will be given a dividend of 0.56 per share on Friday, November 15th. This represents a $2.24 dividend on an annualized basis and a yield of 3.55%.

Citigroup has raised its dividend payment by an average of 0.7% annually over the last three years. Citigroup has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 opened at $63.10 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup has a 1-year low of $38.17 and a 1-year high of $67.81. The firm has a market capitalization of $120.36 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company’s 50-day moving average is $61.54 and its 200 day moving average is $61.94.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $1.52 earnings per share. Research analysts forecast that Citigroup will post 5.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on C. Oppenheimer reduced their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Argus lifted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Evercore ISI lifted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $71.06.

Citigroup Company Profile

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.