Stock Update (NYSE:C): Citigroup Reports First Quarter 2016 Earnings Per Share of $1.10

[Business Wire] – Citigroup Inc. today reported net income for the first quarter 2016 of $3.5 billion, or $1.10 per diluted share, on revenues of $17.6 billion. This compared to net income of $4.8 billion, or $1.51 per diluted share, on revenues of $19.7 billion for the first quarter 2015. Read more on this. Citigroup Inc. (C) , valued at $136.56B, finished at $44.98. Looking at the stock, its one day range is $46.43 to $46.45 with a one year range of $34.52 to $60.95. C shares are currently priced at 9.31x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 13.33x earnings multiple for the same period. And for passive income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.49%. In a review of the consensus earnings estimate this quarter, 22 sell-side analysts are looking at $1.03 per share, which would be $0.48 worse than the year-ago quarter and a $0.44 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.83, which would be a $0.52 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $17.46 Billion. If realized, that would be a 11.86% decrease over the year-ago quarter. In terms of ratings, Atlantic Equities downgraded C from Overweight to Neutral (Mar 1, 2016). Previously, Portales Partners upgraded C from Underperform to Sector Perform. When considering if the stock is under or overvalued, the average price target is $56.08, which is 24.68% above where the stock opened this morning. See more in (NYSE:C) Similar Articles: Market Update: Citigroup Inc (NYSE:C) – Proud Sponsor of Progress: Citi Teams Up With Eight U.S. Athletes as Part of its Team USA Sponsorship for Rio 2016 Stock Update: Citigroup Inc (NYSE:C) – Citigroup Announces Expiration and Final Tender Results of Offers to Purchase Two Series of Outstanding Notes Stock Update: Citigroup Inc (NYSE:C) – Citigroup Declares Common Stock Dividend