Citigroup Inc. (C) Rating Lowered to Hold at Jefferies Group
Citigroup Inc. (NYSE:C) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $63.00 price objective on the financial services provider’s stock, up from their previous price objective of $58.00. Jefferies Group’s price objective points to a potential upside of 13.47% from the stock’s previous close.
C has been the subject of a number of other reports. Vetr downgraded Citigroup from a “hold” rating to a “sell” rating and set a $48.96 target price for the company. in a research report on Wednesday, November 9th. Compass Point started coverage on Citigroup in a research report on Tuesday, October 11th. They issued a “sell” rating and a $39.00 target price for the company. increased their price objective on Citigroup from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Argus reiterated a “hold” rating on shares of Citigroup in a research report on Tuesday, October 18th. Finally, Goldman Sachs Group Inc. downgraded Citigroup from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $50.00 in a research report on Friday, September 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Citigroup currently has an average rating of “Hold” and an average target price of $55.70.
Shares of Citigroup (NYSE:C) opened at 55.52 on Monday. The firm’s 50-day moving average price is $51.37 and its 200-day moving average price is $46.73. The firm has a market capitalization of $158.22 billion, a PE ratio of 12.07 and a beta of 1.74. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.83.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. The business earned $17.80 billion during the quarter, compared to the consensus estimate of $17.32 billion. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The business’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, equities analysts predict that Citigroup will post $4.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Monday, November 7th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, November 3rd. Citigroup’s dividend payout ratio is currently 13.91%.
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Several hedge funds have recently modified their holdings of C. Gemmer Asset Management LLC boosted its position in shares of Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock worth $106,000 after buying an additional 69 shares during the last quarter. City Holding Co. boosted its position in shares of Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock worth $109,000 after buying an additional 485 shares during the last quarter. Cedar Wealth Management LLC boosted its position in shares of Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Citigroup during the second quarter worth about $116,000. Finally, Enterprise Financial Services Corp boosted its position in shares of Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock worth $116,000 after buying an additional 753 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.
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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