Citigroup Inc. (NYSE:C) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday. They presently have a $47.03 price objective on the financial services provider’s stock. Vetr‘s price target points to a potential downside of 3.43% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Compass Point began coverage on Citigroup in a report on Tuesday. They set a “sell” rating and a $39.00 price target for the company. Jefferies Group increased their price objective on 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 objective on shares of Citigroup in a research report on Thursday, September 29th. Credit Agricole SA increased their price objective on Citigroup from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. lowered Citigroup from a “buy” rating to a “neutral” rating and decreased their price objective for the company 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 issued a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.76.
Citigroup (NYSE:C) opened at 48.70 on Tuesday. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.46. The firm has a market capitalization of $141.49 billion, a price-to-earnings ratio of 10.31 and a beta of 1.86. The company’s 50-day moving average price is $47.38 and its 200 day moving average price is $44.98.
Citigroup (NYSE:C) last released its quarterly earnings results 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. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The firm earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. During the same period last year, the firm posted $1.45 EPS. The business’s revenue was down 9.9% on a year-over-year basis. Equities analysts predict that Citigroup will post $4.61 earnings per share for the current fiscal year.
In other news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was 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 $1,554,112.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.
Several large investors have recently modified their holdings of C. Columbia Partners L L C Investment Management boosted its stake in shares of Citigroup by 29.6% in the first quarter. Columbia Partners L L C Investment Management now owns 28,267 shares of the financial services provider’s stock worth $1,180,000 after buying an additional 6,460 shares in the last quarter. Benchmark Capital Advisors boosted its stake in shares of Citigroup by 22.5% in the first quarter. Benchmark Capital Advisors now owns 53,970 shares of the financial services provider’s stock worth $2,253,000 after buying an additional 9,900 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Citigroup during the first quarter worth about $271,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Citigroup during the first quarter worth about $199,573,000. Finally, Shufro Rose & Co. LLC boosted its stake in shares of Citigroup by 6.0% in the first quarter. Shufro Rose & Co. LLC now owns 19,685 shares of the financial services provider’s stock worth $822,000 after buying an additional 1,119 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.
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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