Citigroup Inc (NYSE:C) Receives Consensus Rating of “Buy” from Analysts

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Shares of Citigroup Inc (NYSE:C) have received an average recommendation of “Buy” from the twenty-three research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $80.68.

Several research analysts have recently weighed in on the stock. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley set a $78.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Barclays increased their target price on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th.

Shares of NYSE:C traded up $0.58 on Tuesday, reaching $64.82. 1,759,104 shares of the company were exchanged, compared to its average volume of 14,160,670. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40. Citigroup has a 1-year low of $48.42 and a 1-year high of $75.24. The company has a market capitalization of $149.21 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.72 and a beta of 1.76. The stock’s 50-day simple moving average is $69.81.

Citigroup (NYSE:C) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.78 by $0.17. The business had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 EPS. As a group, analysts expect that Citigroup will post 7.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a $0.51 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 3.15%. Citigroup’s dividend payout ratio (DPR) is 30.68%.

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Citigroup by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 36,542,950 shares of the financial services provider’s stock valued at $2,559,105,000 after purchasing an additional 122,127 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Citigroup by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,309,671 shares of the financial services provider’s stock valued at $792,017,000 after buying an additional 88,835 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Citigroup by 1.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 11,033,376 shares of the financial services provider’s stock worth $686,497,000 after purchasing an additional 124,374 shares during the last quarter. Sanders Capital LLC lifted its holdings in Citigroup by 2.5% in the 2nd quarter. Sanders Capital LLC now owns 10,354,948 shares of the financial services provider’s stock worth $818,349,000 after purchasing an additional 251,300 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in Citigroup by 81.7% in the 2nd quarter. APG Asset Management N.V. now owns 9,426,403 shares of the financial services provider’s stock worth $579,672,000 after buying an additional 4,238,700 shares during the period. 77.65% of the stock is owned by institutional investors.

Citigroup Company Profile

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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Analyst Recommendations for Citigroup (NYSE:C)

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