Citigroup Inc. (C) Cut to “Neutral” at Macquarie
Citigroup Inc. (NYSE:C) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday.
Several other research analysts also recently commented on C. TheStreet raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Jefferies Group reissued a “buy” rating on shares of Citigroup in a research note on Monday, August 1st. Nomura decreased their price target on shares of Citigroup from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, September 7th. Credit Agricole SA lifted their price target on shares of Citigroup from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Finally, Vetr raised shares of Citigroup from a “sell” rating to a “hold” rating and set a $46.20 price target on the stock in a research note on Monday, September 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Citigroup has a consensus rating of “Hold” and a consensus price target of $54.40.
Shares of Citigroup (NYSE:C) opened at 55.45 on Friday. The firm has a 50-day moving average of $49.86 and a 200-day moving average of $46.19. Citigroup has a 12-month low of $34.52 and a 12-month high of $55.98. The company has a market cap of $158.02 billion, a P/E ratio of 12.06 and a beta of 1.74.
Citigroup (NYSE:C) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.08. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The business earned $17.80 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same period in the previous year, the business posted $1.31 earnings per share. Citigroup’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts predict that Citigroup will post $4.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Monday, November 7th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, November 3rd. Citigroup’s payout ratio is currently 13.91%.
Several large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its stake in Citigroup by 127.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 81,800 shares of the financial services provider’s stock valued at $3,415,000 after buying an additional 45,820 shares during the last quarter. Eachwin Capital LP acquired a new stake in Citigroup during the first quarter valued at approximately $384,000. Babson Capital Management LLC raised its stake in Citigroup by 1.2% in the first quarter. Babson Capital Management LLC now owns 352,121 shares of the financial services provider’s stock valued at $14,701,000 after buying an additional 4,100 shares during the last quarter. Mountain Lake Investment Management LLC acquired a new stake in Citigroup during the first quarter valued at approximately $2,088,000. Finally, Seven Eight Capital LLC raised its stake in Citigroup by 558.1% in the first quarter. Seven Eight Capital LLC now owns 48,700 shares of the financial services provider’s stock valued at $2,033,000 after buying an additional 41,300 shares during the last quarter. 72.41% of the stock is owned by hedge funds and other institutional investors.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
Receive News & Stock Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related stocks with our FREE daily email newsletter.