Citigroup Inc. (NYSE:C) Given Consensus Rating of “Moderate Buy” by Analysts

Citigroup Inc. (NYSE:C) has earned an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $145.2222.

Several equities analysts have commented on the company. Evercore set a $143.00 price objective on Citigroup in a research report on Monday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $150.00 price objective on shares of Citigroup in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th.

Citigroup Stock Up 0.4%

Shares of NYSE C opened at $135.78 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $231.58 billion, a P/E ratio of 14.66, a PEG ratio of 0.61 and a beta of 1.12. Citigroup has a 1 year low of $90.68 and a 1 year high of $147.96. The firm has a 50-day simple moving average of $137.02 and a two-hundred day simple moving average of $125.19.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts anticipate that Citigroup will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is 28.94%.

Citigroup declared that its board has approved a stock repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Healthcare banking expansion: Citi appointed new leadership across biotechnology, medical technology, biopharmaceuticals and acute-care banking. The changes position the firm to benefit from increased healthcare dealmaking and could support future advisory, underwriting and financing revenue. Citi Taps New Healthcare Banking Leadership as Dealmaking Heats Up
• Positive Sentiment: Large financing mandate: Citi co-led a $414 million financing for restaurant-commerce platform inKind. The oversubscribed transaction brings inKind’s total capital raised above $1.2 billion and demonstrates Citi’s ability to win sizable private-company financing business, although the direct earnings impact is likely limited. inKind Secures $414 Million in Financing Led by Citi and Cross River
• Positive Sentiment: European leadership hire: Citigroup hired Jean-Baptiste Charlet from Morgan Stanley to lead its French operation. The move could help Citi strengthen its presence in France and compete for corporate, markets and investment-banking mandates. Citigroup Poaches Charlet From Morgan Stanley to Head French Arm
• Neutral Sentiment: Research activity remains visible: Citi maintained a Buy rating and raised its price target on MongoDB, while separately lowering its target for Micron because of potential slowing memory pricing and rising Chinese competition. These calls may generate research and client activity, but they have little direct effect on Citigroup’s earnings or valuation.

Institutional Investors Weigh In On Citigroup

Several hedge funds have recently made changes to their positions in C. Whipplewood Advisors LLC purchased a new stake in Citigroup in the first quarter worth about $25,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Citigroup in the 4th quarter valued at about $25,000. Paladin Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at about $27,000. Richards Merrill & Peterson Inc. purchased a new stake in shares of Citigroup in the 4th quarter worth approximately $28,000. Finally, TD Capital Management LLC purchased a new stake in shares of Citigroup in the 4th quarter worth approximately $28,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.