According to Bloomberg the U.S. Justice Department asked Citigroup for more than $10 billion to settle a probe into mortgage-backed bonds sold before the 2008 financial crisis. The Justice Department reportedly stopped talks with Citigroup when the bank offered less than $4 billion, and could file a lawsuit as early as this week.
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- CITIGROUP INC reported flat earnings per share in the most recent quarter. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, CITIGROUP INC increased its bottom line by earning $4.25 versus $2.46 in the prior year. This year, the market expects an improvement in earnings ($4.65 versus $4.25).
- 38.78% is the gross profit margin for CITIGROUP INC which we consider to be strong. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, C's net profit margin of 16.62% significantly trails the industry average.
- The net income growth from the same quarter one year ago has exceeded that of the Commercial Banks industry average, but is less than that of the S&P 500. The net income increased by 3.5% when compared to the same quarter one year prior, going from $3,808.00 million to $3,943.00 million.
- C, with its decline in revenue, slightly underperformed the industry average of 2.9%. Since the same quarter one year prior, revenues slightly dropped by 3.5%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
- You can view the full analysis from the report here: C Ratings Report