Citigroup (NYSE:C) Price Target Cut to $91.00

Citigroup (NYSE:C) had its target price dropped by stock analysts at Oppenheimer from $92.00 to $91.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 45.27% from the company’s previous close.

Several other brokerages have also recently commented on C. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley lifted their target price on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets lifted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Citigroup Price Performance

C opened at $62.64 on Wednesday. The company has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.74 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average price of $60.97 and a 200-day moving average price of $61.90. Citigroup has a twelve month low of $38.17 and a twelve month high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 earnings per share. Equities analysts expect that Citigroup will post 5.76 EPS for the current year.

Hedge Funds Weigh In On Citigroup

Hedge funds have recently bought and sold shares of the company. Lloyd Advisory Services LLC. raised its stake in shares of Citigroup by 355.9% in the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after acquiring an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after purchasing an additional 8,593 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after purchasing an additional 23,774 shares during the last quarter. BDF Gestion acquired a new position in Citigroup during the 2nd quarter valued at about $3,861,000. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Citigroup by 13.9% in the first quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock valued at $7,300,000 after purchasing an additional 14,100 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.