Wall Street Zen Upgrades Citigroup (NYSE:C) to "Buy"

Key Points

• Wall Street Zen upgraded Citigroup from “hold” to “buy.” Analysts overall rate the stock “Moderate Buy,” with a consensus price target of $150.87.
• Citigroup’s latest quarterly results beat expectations: earnings per share were $2.85 versus a $2.66 estimate, while revenue reached $23.84 billion, up 7.9% year over year.
• Shares opened at $119.16, below their 50-day and 200-day moving averages; the stock has traded between $95.83 and $147.96 over the past year.

Citigroup (NYSE:C - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms have also recently commented on C. Royal Bank Of Canada lowered their target price on Citigroup from $150.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, October 14th. Truist Financial reduced their price objective on shares of Citigroup from $158.00 to $154.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Citigroup in a research report on Wednesday, October 14th. TD Cowen cut their price target on Citigroup from $150.00 to $148.00 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Finally, UBS Group set a $148.00 price objective on shares of Citigroup in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $150.87.

Citigroup Price Performance

Shares of NYSE C opened at $119.16 on Friday. The firm's 50-day simple moving average is $128.92 and its 200 day simple moving average is $126.60. The stock has a market cap of $203.24 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.54 and a beta of 1.18. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.99 and a current ratio of 1.00. Citigroup has a fifty-two week low of $95.83 and a fifty-two week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm had revenue of $23.84 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. Citigroup's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that Citigroup will post 11.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citigroup

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Citigroup in the second quarter valued at about $3,244,602,000. Nykredit A S bought a new stake in shares of Citigroup during the 2nd quarter worth $458,275,000. State Street Corp lifted its holdings in shares of Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company's stock valued at $11,199,986,000 after purchasing an additional 2,913,701 shares in the last quarter. SEB Asset Management AB bought a new stake in Citigroup in the 1st quarter worth approximately $252,972,000. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of Citigroup by 1,137.1% during the second quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company's stock valued at $257,579,000 after purchasing an additional 1,691,611 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and DBS are competing to recruit talent for their India operations, including expansion tied to GIFT City. The hiring push points to investment in the region’s growth potential, though the articles do not quantify its expected financial impact. Citigroup, DBS vie for top talent to boost business in India hub
• Positive Sentiment: CEO Jane Fraser said she does not expect the market correction to become deeper or last longer, which may help reassure investors after the recent sell-off. This is a view on the broader market, not a change to Citi’s outlook. Citigroup CEO Jane Fraser on the market correction
• Neutral Sentiment: Citi named Circle its top pick in regulated stablecoins and digital payments. The call reflects Citi’s research activity, but Circle—not Citigroup—is the stock being recommended, so it is not a direct earnings catalyst for C. Citi Names Top Stock in Stablecoin and Digital Payments Space
• Negative Sentiment: Citigroup shares had a sharp decline in the prior session amid a volatile market. The broader backdrop remains uncertain, with post-election policy potentially slowing bank deregulation and increasing scrutiny of financial firms. Citigroup’s recent price decline Midterm election results and financial stocks
• Negative Sentiment: Citi’s strategists say the AI trade could remain under pressure and currently favor European equities over U.S. stocks. That cautious view may weigh on broader market sentiment, though it is not specific to Citi’s own fundamentals. Citi explains why the AI trade may remain under pressure

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions.

The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.

Citi serves clients across the United States and a broad range of international markets, drawing on its global network to support cross-border business and financial activity.

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