Citigroup (C) Downgraded by Vertical Group

Citigroup (NYSE:C) was downgraded by research analysts at Vertical Group from a “buy” rating to a “hold” rating in a report issued on Wednesday, The Fly reports.

Several other equities analysts also recently weighed in on C. BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Atlantic Securities restated an “overweight” rating and set a $85.00 target price (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Deutsche Bank restated a “hold” rating and set a $67.00 target price (up from $61.00) on shares of Citigroup in a report on Tuesday, September 26th. Raymond James Financial restated an “underperform” rating on shares of Citigroup in a report on Wednesday, September 27th. Finally, Royal Bank of Canada restated a “buy” rating and set a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.07.

Shares of Citigroup (NYSE:C) opened at $76.54 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. Citigroup has a 52 week low of $55.23 and a 52 week high of $78.44. The company has a market cap of $202,370.00, a PE ratio of 14.75, a P/E/G ratio of 1.23 and a beta of 1.56.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same period last year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. research analysts forecast that Citigroup will post 5.25 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Leisure Capital Management lifted its position in Citigroup by 1.6% during the second quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock valued at $252,000 after buying an additional 59 shares in the last quarter. Halbert Hargrove Russell LLC lifted its position in Citigroup by 1.6% during the second quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock valued at $317,000 after buying an additional 74 shares in the last quarter. Usca Ria LLC lifted its position in Citigroup by 0.3% during the second quarter. Usca Ria LLC now owns 34,375 shares of the financial services provider’s stock valued at $2,299,000 after buying an additional 90 shares in the last quarter. Davis R M Inc. lifted its position in Citigroup by 2.2% during the second quarter. Davis R M Inc. now owns 4,250 shares of the financial services provider’s stock valued at $284,000 after buying an additional 92 shares in the last quarter. Finally, Hartland & Co. LLC lifted its position in Citigroup by 1.2% during the second quarter. Hartland & Co. LLC now owns 8,280 shares of the financial services provider’s stock valued at $554,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Citigroup (C) Downgraded by Vertical Group” was reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/17/citigroup-c-downgraded-by-vertical-group.html.

About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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.