Citigroup Inc. (C) Downgraded to Sell at Vetr Inc.
Citigroup Inc. (NYSE:C) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday. They currently have a $47.03 target price on the financial services provider’s stock. Vetr‘s target price would indicate a potential downside of 4.00% from the company’s current price.
A number of other research analysts also recently weighed in on the stock. Compass Point began coverage on shares of Citigroup in a research report on Tuesday. They set a “sell” rating and a $39.00 price objective on the stock. Jefferies Group increased their price objective on shares of Citigroup from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday. Nomura reiterated a “buy” rating and issued a $55.00 price target on shares of Citigroup in a research report on Thursday, September 29th. Credit Agricole SA increased their price target on shares of Citigroup from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. downgraded shares of Citigroup from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $52.00 to $50.00 in a research report on Friday, September 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.76.
Citigroup (NYSE:C) traded down 1.13% during mid-day trading on Tuesday, hitting $48.99. 16,033,289 shares of the stock were exchanged. Citigroup has a 52 week low of $34.52 and a 52 week high of $56.46. The stock has a market capitalization of $142.33 billion, a PE ratio of 10.37 and a beta of 1.86. The company has a 50-day moving average of $47.32 and a 200-day moving average of $44.96.
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Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. The company had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 earnings per share. On average, equities analysts predict that Citigroup will post $4.61 EPS for the current fiscal year.
In related news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the sale, the insider now owns 35,042 shares in the company, valued at approximately $1,554,112.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of C. BNP Paribas Arbitrage SA increased its position in Citigroup by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,083,668 shares of the financial services provider’s stock worth $206,341,000 after buying an additional 738,298 shares during the period. Boston Advisors LLC acquired a new position in Citigroup during the second quarter worth approximately $10,755,000. Sanders Capital LLC increased its position in Citigroup by 0.6% in the second quarter. Sanders Capital LLC now owns 16,006,239 shares of the financial services provider’s stock worth $693,526,000 after buying an additional 89,414 shares during the period. Legal & General Group Plc increased its position in Citigroup by 2.1% in the first quarter. Legal & General Group Plc now owns 14,126,657 shares of the financial services provider’s stock worth $589,847,000 after buying an additional 289,283 shares during the period. Finally, Orbis Allan Gray Ltd acquired a new position in Citigroup during the first quarter worth approximately $181,532,000. 71.41% of the stock is currently owned by institutional investors and hedge funds.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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.
To view Vetr’s full report, visit Vetr’s official website.
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