Citigroup Inc (C) reported quarterly earnings results on Friday, Apr-15-2016. The company said it had a profit of $1.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.05. The company posted revenue of $17555.00 million in the period, compared to analysts expectations of $17444.17 million. The company’s revenue was down -11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS.
Many Wall Street Analysts have commented on Citigroup Inc. Shares were Reiterated by Barclays on Mar 14, 2016 to “Overweight” and Lowered the Price Target to $ 60 from a previous price target of $65 .Citigroup Inc was Downgraded by Atlantic Equities to ” Neutral” on Mar 1, 2016. Shares were Reiterated by Oppenheimer on Jan 19, 2016 to “Outperform” and Lowered the Price Target to $ 66 from a previous price target of $73 .
Citigroup Inc opened for trading at $40.74 and hit $41.51 on the upside on Monday, eventually ending the session at $41.12, with a gain of 1.61% or 0.65 points. The heightened volatility saw the trading volume jump to 2,10,83,686 shares. Company has a market cap of $121,227 M.
Investors should note that on Apr 1, 2016, Citigroup Inc announced a cash dividend of $0.0500. The company’s management has announced Apr 28, 2016 as the ex-dividend date and fixed the record date on May 2, 2016. The payable date has been fixed on May 27, 2016.
In a different news, on Feb 12, 2016, William Mills (CEO) purchased 1,000 shares at $912.50 per share price. According to the SEC, on Feb 12, 2016, Don Callahan (Head of Operations&Technology) purchased 9,870 shares at $29.56 per share price. On Jan 22, 2016, Michael Corbat (CEO) purchased 25,000 shares at $41.05 per share price, according to the Form-4 filing with the securities and exchange commission.
Citigroup Inc. (Citi) is a financial services holding company whose businesses provide consumers corporations governments and institutions with financial products and services including consumer banking and credit corporate and investment banking securities brokerage trade and securities services and wealth management. The Company operates through two primary business segments: Citicorp and Citi Holdings. Citicorp consists of the operating businesses: Global Consumer Banking which consists of consumer banking in North America EMEA Latin America and Asia and Institutional Clients Group which includes Banking and Markets and securities services. Citi Holdings contains businesses and portfolios of assets that Citi has determined are not central to its core Citicorp businesses. Citi’s consumer operations as well as the consumer finance business in Korea and certain businesses in ICG form part of Citi Holdings.