Citigroup’s “Buy” Rating Reaffirmed at TheStreet (C)
Citigroup (NYSE:C)‘s stock had its “buy” rating restated by equities researchers at TheStreet in a research report issued on Wednesday, American Banking and Market News reports.
The analysts wrote, “Citigroup (C) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in net income, solid stock price performance and attractive valuation levels. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Citigroup (NYSE:C) from $60.00 to $65.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. Separately, analysts at Guggenheim cut their price target on shares of Citigroup (NYSE:C) from $68.50 to $64.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Citigroup (NYSE:C) in a research note to investors on Friday, September 27th. They now have a $54.00 price target on the stock. One research 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 assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $56.82.
Shares of Citigroup (NYSE:C) traded down 0.39% on Wednesday, hitting $48.4099. The stock had a trading volume of 6,924,675 shares. Citigroup has a 1-year low of $33.05 and a 1-year high of $53.56. The stock’s 50-day moving average is $49.90 and its 200-day moving average is $49.04. The company has a market cap of $147.2 billion and a price-to-earnings ratio of 15.61.
Citigroup (NYSE:C) last posted its quarterly earnings results on Monday, July 15th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Citigroup will post $4.84 EPS for the current fiscal year.
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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