Citigroup Inc. (C) To Go Ex-Dividend on November 4th

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, November 4th.

Citigroup has increased its dividend payment by an average of 0.7% annually over the last three years. Citigroup has a payout ratio of 31.8% meaning 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

Shares of Citigroup stock opened at $62.99 on Friday. The firm’s fifty day simple moving average is $61.62 and its 200-day simple moving average is $61.95. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The stock has a market capitalization of $120.15 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.74 and a beta of 1.44. 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 (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the business posted $1.52 earnings per share. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that Citigroup will post 5.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on C shares. Argus boosted their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Barclays upped their price target on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note 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 research report on Thursday, July 11th. Finally, Evercore ISI upped their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.06.

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.