Citigroup Price Target Lowered to $64.00 at Guggenheim (C)
Guggenheim reduced their price objective on shares of Citigroup (NYSE:C) from $68.50 to $64.00 in a research note issued on Monday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 31.93% from the company’s current price.
Citigroup (NYSE:C) traded down 0.78% during mid-day trading on Monday, hitting $48.51. 23,797,198 shares of the company’s stock traded hands. Citigroup has a 1-year low of $32.87 and a 1-year high of $53.56. The stock has a 50-day moving average of $49.97 and a 200-day moving average of $49.03. The company has a market cap of $147.5 billion and a P/E ratio of 15.71.
Citigroup (NYSE:C) last announced its earnings results on Monday, July 15th. The company reported $1.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.07. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the company posted $0.95 earnings per share. Citigroup’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Citigroup will post $4.85 earnings per share for the current fiscal year.
C has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Citigroup (NYSE:C) in a research note to investors on Friday. They now have a $54.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Citigroup (NYSE:C) from $62.00 to $65.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Societe Generale initiated coverage on shares of Citigroup (NYSE:C) in a research note to investors on Thursday, September 19th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $56.63.
Citigroup Inc (NYSE:C) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
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