Seaport Res Ptn Forecasts Increased Earnings for Citigroup

Citigroup Inc. (NYSE:C) – Seaport Res Ptn upped their FY2024 EPS estimates for Citigroup in a research report issued on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now anticipates that the company will post earnings of $5.87 per share for the year, up from their prior estimate of $5.77. The consensus estimate for Citigroup’s current full-year earnings is $5.86 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q1 2025 earnings at $1.88 EPS, Q3 2025 earnings at $2.00 EPS, Q4 2025 earnings at $1.81 EPS, FY2025 earnings at $7.60 EPS and FY2026 earnings at $10.05 EPS.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The company’s revenue was up .9% on a year-over-year basis.

A number of other brokerages have also weighed in on C. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday. They issued a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a report on Monday. Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley decreased their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Trading Down 0.6 %

NYSE:C opened at $73.23 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50-day simple moving average is $70.03 and its 200-day simple moving average is $64.95. Citigroup has a fifty-two week low of $50.51 and a fifty-two week high of $74.29. The stock has a market capitalization of $138.50 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43.

Institutional Investors Weigh In On Citigroup

Several hedge funds have recently bought and sold shares of C. Northwest Investment Counselors LLC bought a new position in Citigroup during the third quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the 2nd quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC raised its holdings in Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after acquiring an additional 48,484 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

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.