Oppenheimer Holdings Inc. Reaffirms Outperform Rating for Citigroup Inc (C)
Citigroup Inc (NYSE:C)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer Holdings Inc. in a research note issued on Thursday, May 4th. They presently have a $78.00 price target on the financial services provider’s stock, up from their prior price target of $77.00. Oppenheimer Holdings Inc.’s target price indicates a potential upside of 29.83% from the stock’s previous close.
C has been the topic of a number of other research reports. Vetr cut shares of Citigroup from a “buy” rating to a “hold” rating and set a $63.37 price objective on the stock. in a research note on Wednesday, January 4th. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. CLSA reiterated a “buy” rating and set a $80.00 target price on shares of Citigroup in a research report on Friday, January 13th. Morgan Stanley upgraded Citigroup from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 31st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $63.00 target price on shares of Citigroup in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $64.34.
Shares of Citigroup (NYSE:C) traded up 2.30% during mid-day trading on Thursday, hitting $61.46. 10,155,843 shares of the company were exchanged. Citigroup has a 52 week low of $38.31 and a 52 week high of $62.58. The company has a 50 day moving average of $59.71 and a 200 day moving average of $58.37. The company has a market capitalization of $169.22 billion, a P/E ratio of 12.39 and a beta of 1.68. Citigroup also saw unusually large options trading activity on Tuesday. Stock investors acquired 35,976 put options on the stock. This represents an increase of approximately 141% compared to the typical daily volume of 14,934 put options.
Citigroup (NYSE:C) last issued its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Citigroup had a net margin of 18.10% and a return on equity of 7.09%. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.75 billion. During the same quarter in the prior year, the company earned $1.10 EPS. Citigroup’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that Citigroup will post $5.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Monday, May 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, April 27th. Citigroup’s payout ratio is currently 13.56%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in C. FNY Partners Fund LP acquired a new position in shares of Citigroup during the fourth quarter worth $106,000. Arrow Financial Corp raised its position in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock worth $113,000 after buying an additional 85 shares in the last quarter. Enterprise Financial Services Corp raised 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 in the last quarter. Patten Group Inc. raised its stake in Citigroup by 12.3% in the third quarter. Patten Group Inc. now owns 2,426 shares of the financial services provider’s stock valued at $118,000 after buying an additional 265 shares during the period. Finally, Advantage Investment Management LLC raised its stake in Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the period. 73.82% of the stock is currently owned by institutional investors and hedge funds.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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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