Citigroup Stock Rating Lowered by Atlantic Securities (C)
Citigroup (NYSE:C) was downgraded by Atlantic Securities from an “overweight” rating to a “neutral” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $55.00 target price on the stock, down from their previous target price of $59.00. Atlantic Securities’ price objective indicates a potential upside of 11.49% from the stock’s previous close.
Citigroup (NYSE:C) traded down 2.74% during mid-day trading on Friday, hitting $49.33. 59,202,244 shares of the company’s stock traded hands. Citigroup has a 52-week low of $40.28 and a 52-week high of $55.28. The stock has a 50-day moving average of $52.43 and a 200-day moving average of $50.95. The company has a market cap of $149.6 billion and a P/E ratio of 12.80. Citigroup also saw some unusual options trading on Friday. Traders acquired 177,597 call options on the company. This is an increase of approximately 228% compared to the typical daily volume of 54,135 call options.
Citigroup (NYSE:C) last posted its quarterly earnings results on Thursday, January 16th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by $0.30. The company had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $18.18 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts expect that Citigroup will post $5.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of 0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, January 30th.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Citigroup in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Citigroup in a research note to investors on Friday, January 17th. They now have a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Citigroup presently has a consensus rating of “Buy” and an average price target of $58.56.
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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