Citigroup (C) Upgraded by ValuEngine to Strong-Buy

Citigroup (NYSE:C) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Several other research analysts have also recently issued reports on the company. Raymond James Financial assumed coverage on Citigroup in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. Morgan Stanley increased their price target on Citigroup from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Jefferies Group set a $81.00 price target on Citigroup and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Nomura increased their price target on Citigroup to $84.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $83.00 price target on shares of Citigroup in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.44.

Shares of Citigroup (NYSE:C) traded up $1.81 during midday trading on Friday, reaching $73.68. The company’s stock had a trading volume of 26,505,217 shares, compared to its average volume of 16,700,000. Citigroup has a 1 year low of $56.37 and a 1 year high of $80.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $194,810.00, a price-to-earnings ratio of 13.28, a PEG ratio of 1.09 and a beta of 1.54.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. The firm had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts predict that Citigroup will post 6.4 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Leisure Capital Management boosted its position in shares of Citigroup by 1.6% in the 2nd quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 59 shares during the period. Usca Ria LLC boosted its position in shares of Citigroup by 0.3% in the 2nd quarter. Usca Ria LLC now owns 34,375 shares of the financial services provider’s stock valued at $2,299,000 after purchasing an additional 90 shares during the period. Boys Arnold & Co. Inc. boosted its position in shares of Citigroup by 0.7% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 14,532 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 100 shares during the period. Carnegie Capital Asset Management LLC boosted its position in shares of Citigroup by 0.5% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 20,225 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 101 shares during the period. Finally, Buckingham Asset Management LLC boosted its position in shares of Citigroup by 2.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 6,018 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 80.94% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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