Update (4:30 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- Citigroup (C) fell 4.35% to $52.60, down $2.39 from its previous close of $54.99, at the close of the trading day on Thursday after the company announced fourth-quarter earnings that fell short of analysts' expectations.
The stock had a volume of 62,865,140, nearly three times its average of 21,429,700. It hit a high of $53.56 and a low of $52.35.
Citigroup reported quarterly net income jumped to $2.7 billion, or 85 cents a share, from the same period a year earlier, while revenue dipped slightly to $17.8 billion. After accounting for adjustments and one-time items, Citigroup's earnings drop to $2.6 billion, or 82 cents a share.
Analysts had anticipated earnings of 95 cents a share and revenue of $18.2 billion.
TheStreet Ratings team rates CITIGROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CITIGROUP INC (C) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, attractive valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Powered by its strong earnings growth of 553.33% and other important driving factors, this stock has surged by 31.30% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, C should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Diversified Financial Services industry. The net income increased by 589.5% when compared to the same quarter one year prior, rising from $468.00 million to $3,227.00 million.
- 36.46% is the gross profit margin for CITIGROUP INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 14.78% is above that of the industry average.
- Net operating cash flow has significantly increased by 315.30% to $14,249.00 million when compared to the same quarter last year. In addition, CITIGROUP INC has also vastly surpassed the industry average cash flow growth rate of 17.84%.
- You can view the full analysis from the report here: C Ratings Report
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