Citigroup Inc (C) released its first quarter results yesterday. The company reported net earnings of $3.62 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 245 percent compared to the same period a year ago.
Citigroup Inc. was founded in 1812 and is headquartered in New York, New York. Citigroup Inc., a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Citigroup's revenue decreased 19 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to nan% for the first quarter compared to the same period in the previous year, and operating margins increased to 47.68% over the same period. Net earnings for past trailing twelve months were $nan million, down nan% from the prior year.
Overall liquidity of the balance sheet, as measured by the current ratio, increased 5.56% this past year. The current ratio for Citigroup now stands at 1.45. The company decreased share outstanding by 0.71%.
Shares of C are currently trading around $72.54. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 9.55 and price to book ratio of 0.83.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, April 16, 2021.