Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Citigroup Inc. (NYSE:C) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $69.06.

A number of equities research analysts have issued reports on the company. Oppenheimer boosted their price target on Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley lifted their price target on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Piper Sandler upped their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th.

Citigroup Stock Performance

C stock opened at $62.60 on Tuesday. The stock’s 50 day simple moving average is $60.61 and its 200 day simple moving average is $61.80. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup has a 12-month low of $38.17 and a 12-month high of $67.81. The stock has a market capitalization of $119.41 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. Citigroup’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Citigroup will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Hedge Funds Weigh In On Citigroup

Large investors have recently modified their holdings of the stock. POM Investment Strategies LLC purchased a new position in Citigroup during the 2nd quarter valued at $25,000. Beacon Capital Management LLC boosted its stake in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup in the second quarter worth about $31,000. Triad Wealth Partners LLC purchased a new position in Citigroup in the 2nd quarter worth about $32,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in Citigroup by 93.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after buying an additional 276 shares in the last quarter. 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.