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FinancialNewsOnline
on Jan 17, 2012
Citigroup (NYSE:C) reported fourth
quarter earnings before the bell Tuesday, posting an EPS of $0.38,
missing consensus estimates of $0.49 per share. Revenues for the
quarter came in at $17.2 billion missing analysts expectations of $18.54
billion.
Vikram Pandit, Citi's Chief Executive Officer, said, "Overall, we made solid progress in 2011. We increased our net income to $11.3 billion, up 6% from the previous year, and reached key benchmarks in our consumer businesses, showing our strategy is achieving results. Clearly, the macro environment has impacted the capital markets and we will continue to right-size our businesses to match the environment. With Citi Holdings assets at 12% after the transfer of retail partner cards to Citicorp, we are increasingly focused on driving earnings through our core franchise and beginning to return capital to our shareholders this year."
Citigroup (NYSE:C) has potential upside of 41.7% based on a current price of $30.74 and an average consensus analyst price target of $43.57.
Vikram Pandit, Citi's Chief Executive Officer, said, "Overall, we made solid progress in 2011. We increased our net income to $11.3 billion, up 6% from the previous year, and reached key benchmarks in our consumer businesses, showing our strategy is achieving results. Clearly, the macro environment has impacted the capital markets and we will continue to right-size our businesses to match the environment. With Citi Holdings assets at 12% after the transfer of retail partner cards to Citicorp, we are increasingly focused on driving earnings through our core franchise and beginning to return capital to our shareholders this year."
Citigroup (NYSE:C) has potential upside of 41.7% based on a current price of $30.74 and an average consensus analyst price target of $43.57.
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