Shares of Citigroup Inc (NYSE:C) have been assigned an average recommendation of "Buy" from the twenty-five brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $74.34.
A number of equities research analysts have issued reports on C shares. Seaport Global Securities started coverage on shares of Citigroup in a research note on Wednesday, July 8th. They set a "buy" rating and a $65.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Citigroup from $61.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday. BMO Capital Markets increased their price objective on shares of Citigroup from $82.00 to $87.00 in a research note on Wednesday, July 15th. Wells Fargo & Company reduced their price objective on shares of Citigroup from $72.00 to $66.00 and set an "overweight" rating on the stock in a research note on Tuesday. They noted that the move was a valuation call. Finally, Oppenheimer reduced their price objective on shares of Citigroup from $106.00 to $101.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 14th.
Shares of C stock traded up $1.32 on Wednesday, hitting $46.13. The company's stock had a trading volume of 2,694,988 shares, compared to its average volume of 20,366,542. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. The stock's 50 day moving average is $51.37 and its 200-day moving average is $49.66. Citigroup has a fifty-two week low of $32.00 and a fifty-two week high of $83.11. The company has a market capitalization of $93.29 billion, a PE ratio of 8.00, a PEG ratio of 1.43 and a beta of 1.75.
Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $19.77 billion for the quarter, compared to the consensus estimate of $19.06 billion. Citigroup had a net margin of 13.64% and a return on equity of 7.40%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.95 earnings per share. On average, research analysts forecast that Citigroup will post 3.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.04 dividend on an annualized basis and a yield of 4.42%. Citigroup's dividend payout ratio (DPR) is presently 26.91%.
A number of hedge funds and other institutional investors have recently modified their holdings of C. Bank of New York Mellon Corp increased its position in Citigroup by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,615,758 shares of the financial services provider's stock valued at $1,819,963,000 after purchasing an additional 1,711,353 shares during the period. Massachusetts Financial Services Co. MA increased its position in Citigroup by 2.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 34,472,019 shares of the financial services provider's stock valued at $1,451,962,000 after purchasing an additional 961,095 shares during the period. Geode Capital Management LLC increased its position in Citigroup by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 32,582,914 shares of the financial services provider's stock valued at $1,370,137,000 after purchasing an additional 647,139 shares during the period. Sanders Capital LLC increased its position in Citigroup by 52.0% during the 2nd quarter. Sanders Capital LLC now owns 19,635,229 shares of the financial services provider's stock valued at $1,108,724,000 after purchasing an additional 6,714,645 shares during the period. Finally, Morgan Stanley increased its position in Citigroup by 4.6% during the 1st quarter. Morgan Stanley now owns 14,670,219 shares of the financial services provider's stock valued at $617,909,000 after purchasing an additional 650,874 shares during the period. Institutional investors and hedge funds own 75.57% of the company's stock.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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