Citigroup Inc. (NYSE:C – Free Report) – Equities researchers at Seaport Res Ptn decreased their FY2023 earnings per share estimates for shares of Citigroup in a research note issued to investors on Friday, June 30th. Seaport Res Ptn analyst J. Mitchell now expects that the company will post earnings of $6.10 per share for the year, down from their previous estimate of $6.25. The consensus estimate for Citigroup’s current full-year earnings is $5.89 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q4 2023 earnings at $1.46 EPS, Q2 2024 earnings at $1.74 EPS, Q4 2024 earnings at $1.72 EPS and FY2024 earnings at $7.00 EPS.
A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets boosted their target price on shares of Citigroup from $56.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, April 17th. Piper Sandler boosted their target price on shares of Citigroup from $47.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. 92 Resources reiterated a “reiterates” rating on shares of Citigroup in a research note on Friday, June 16th. TheStreet upgraded Citigroup from a “c+” rating to a “b-” rating in a research note on Monday, March 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on Citigroup from $50.00 to $48.00 in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.50.
Citigroup Stock Performance
C stock opened at $46.04 on Monday. The stock has a market capitalization of $89.63 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.57. Citigroup has a 12-month low of $40.01 and a 12-month high of $54.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48. The stock’s 50 day simple moving average is $46.52 and its 200 day simple moving average is $47.64.
Citigroup (NYSE:C – Free Report) last issued its quarterly earnings results on Friday, April 14th. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.53. Citigroup had a return on equity of 7.84% and a net margin of 12.96%. The firm had revenue of $21.40 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the previous year, the firm posted $2.02 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year.
Hedge Funds Weigh In On Citigroup
Institutional investors have recently modified their holdings of the stock. Arlington Partners LLC purchased a new position in Citigroup during the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc grew its holdings in Citigroup by 72.1% in the fourth quarter. Bell Investment Advisors Inc now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in Citigroup in the first quarter worth $28,000. EWG Elevate Inc. purchased a new position in Citigroup in the fourth quarter worth $29,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Citigroup in the fourth quarter worth $33,000. 69.39% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Zdenek Turek sold 12,000 shares of the stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $49.87, for a total value of $598,440.00. Following the sale, the insider now directly owns 155,979 shares of the company’s stock, valued at approximately $7,778,672.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
Citigroup Company Profile
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. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Citigroup, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Citigroup wasn’t on the list.
While Citigroup currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Source: marketbeat.com
