Citigroup (NYSE:C) PT Set at $85.00 by Wells Fargo & Co

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Citigroup (NYSE:C) has been given a $85.00 target price by Wells Fargo & Co in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Co‘s target price suggests a potential upside of 32.17% from the company’s previous close.

Other analysts have also issued reports about the stock. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley set a $78.00 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. BMO Capital Markets lowered shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America lowered shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $79.12.

Shares of C traded up $0.83 during mid-day trading on Friday, hitting $64.31. 13,210,798 shares of the company traded hands, compared to its average volume of 15,049,133. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day moving average price of $69.44 and a two-hundred day moving average price of $66.46. Citigroup has a 1 year low of $48.42 and a 1 year high of $75.24. The stock has a market cap of $138.53 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.67 and a beta of 1.76.

Citigroup (NYSE:C) last announced its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.17. The company had revenue of $18.76 billion during 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 firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 earnings per share. On average, analysts forecast that Citigroup will post 7.54 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Comerica Securities Inc. raised its position in shares of Citigroup by 22.0% in the fourth quarter. Comerica Securities Inc. now owns 12,874 shares of the financial services provider’s stock valued at $670,000 after buying an additional 2,324 shares in the last quarter. Ironwood Wealth Management LLC. raised its position in Citigroup by 34.4% during the first quarter. Ironwood Wealth Management LLC. now owns 1,524 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 390 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Citigroup during the first quarter valued at approximately $5,522,000. Prime Capital Investment Advisors LLC raised its position in Citigroup by 671,193.8% during the first quarter. Prime Capital Investment Advisors LLC now owns 107,407 shares of the financial services provider’s stock valued at $6,683,000 after purchasing an additional 107,391 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its position in Citigroup by 1.3% during the first quarter. Berkshire Asset Management LLC PA now owns 175,241 shares of the financial services provider’s stock valued at $10,903,000 after purchasing an additional 2,264 shares in the last quarter. 76.78% of the stock is currently owned by hedge funds and other 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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