Citigroup Inc. (C) Downgraded by Vetr Inc. to Strong Sell
Vetr downgraded shares of Citigroup Inc. (NYSE:C) from a sell rating to a strong sell rating in a research note released on Monday. They currently have $48.79 price target on the financial services provider’s stock.
C has been the topic of a number of other research reports. Jefferies Group upped their price objective on Citigroup from $54.00 to $58.00 and gave the stock a buy rating in a research report on Monday, October 10th. upped their price objective on Citigroup from $61.00 to $63.00 and gave the stock a buy rating in a research report on Friday, September 23rd. Goldman Sachs Group Inc. lowered Citigroup from a buy rating to a neutral rating and cut their price objective for the stock from $52.00 to $50.00 in a research report on Friday, September 16th. Macquarie lowered Citigroup from an outperform rating to a neutral rating and upped their price objective for the stock from $55.45 to $57.00 in a research report on Friday. Finally, Morgan Stanley raised Citigroup from an equal weight rating to an overweight rating in a research report on Monday, November 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $53.47.
Shares of Citigroup (NYSE:C) opened at 55.54 on Monday. The firm’s 50-day moving average price is $50.36 and its 200-day moving average price is $46.35. The firm has a market cap of $158.27 billion, a PE ratio of 12.08 and a beta of 1.74. Citigroup has a 12 month low of $34.52 and a 12 month high of $55.99.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The company had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $17.32 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Analysts expect that Citigroup will post $4.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Monday, November 7th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.64 annualized dividend and a yield of 1.15%. Citigroup’s dividend payout ratio is presently 13.91%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Kistler Tiffany Companies LLC raised its position in shares of Citigroup by 26.1% in the second quarter. Kistler Tiffany Companies LLC now owns 4,589 shares of the financial services provider’s stock valued at $195,000 after buying an additional 950 shares during the period. Fulton Bank N.A. raised its position in shares of Citigroup by 87.9% in the second quarter. Fulton Bank N.A. now owns 19,640 shares of the financial services provider’s stock valued at $833,000 after buying an additional 9,190 shares during the period. Nexus Investment Management Inc. raised its position in shares of Citigroup by 1.5% in the second quarter. Nexus Investment Management Inc. now owns 343,900 shares of the financial services provider’s stock valued at $14,578,000 after buying an additional 5,050 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Citigroup by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,083,668 shares of the financial services provider’s stock valued at $206,341,000 after buying an additional 738,298 shares during the period. Finally, Boothbay Fund Management LLC raised its position in shares of Citigroup by 135.4% in the first quarter. Boothbay Fund Management LLC now owns 20,865 shares of the financial services provider’s stock valued at $726,000 after buying an additional 12,000 shares during the period. Institutional investors own 72.52% of the company’s stock.
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.
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