Citigroup (C) Receiving Positive Media Coverage, Analysis Finds

Press coverage about Citigroup (NYSE:C) has been trending positive recently, Accern Sentiment reports. The research group ranks the sentiment of news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Citigroup earned a media sentiment score of 0.29 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 85 out of 100, meaning that recent news coverage is very likely to have an effect on the stock’s share price in the next several days.

Here are some of the news stories that may have impacted Accern Sentiment Analysis’s rankings:

C has been the subject of several recent research reports. Nomura reissued a “buy” rating and set a $69.00 price objective on shares of Citigroup in a report on Monday, April 17th. Zacks Investment Research cut Citigroup from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $53.00 to $69.00 in a research report on Wednesday, April 5th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $73.42 target price for the company in a research report on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $78.00 target price (up from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $67.74.

Shares of Citigroup (NYSE:C) traded down 0.25% during midday trading on Friday, hitting $67.43. The stock had a trading volume of 13,604,466 shares. The company’s 50 day moving average is $65.99 and its 200 day moving average is $61.19. Citigroup has a 52 week low of $42.50 and a 52 week high of $68.91. The firm has a market cap of $183.72 billion, a P/E ratio of 13.50 and a beta of 1.48.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $1.24 earnings per share. On average, equities analysts predict that Citigroup will post $5.22 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a yield of 1.90%. Citigroup’s dividend payout ratio (DPR) is currently 12.77%.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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