Macquarie Increases Citigroup (C) Price Target to $84.00

Citigroup (NYSE:C) had its target price increased by Macquarie from $82.00 to $84.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on C. BidaskClub cut Citigroup from a strong-buy rating to a buy rating in a report on Tuesday, October 17th. Wells Fargo & Co set a $95.00 target price on Citigroup and gave the stock a buy rating in a report on Wednesday, December 20th. Credit Suisse Group reiterated a buy rating and set a $83.00 target price on shares of Citigroup in a report on Tuesday, December 12th. Nomura boosted their target price on Citigroup to $84.00 and gave the stock a buy rating in a report on Monday, December 11th. Finally, Vetr upgraded Citigroup from a hold rating to a buy rating and set a $80.92 target price for the company in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $79.65.

Shares of Citigroup (NYSE C) opened at $77.08 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $197,144.67, a PE ratio of -24.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.54. Citigroup has a fifty-two week low of $56.55 and a fifty-two week high of $80.70.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 5th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, February 2nd. Citigroup’s payout ratio is -41.29%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in shares of Citigroup by 227.4% during the 3rd quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock valued at $700,395,000 after acquiring an additional 6,688,305 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Citigroup by 109.5% during the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock valued at $621,497,000 after acquiring an additional 4,856,866 shares in the last quarter. PointState Capital LP acquired a new stake in shares of Citigroup during the 2nd quarter valued at approximately $321,322,000. The Manufacturers Life Insurance Company raised its position in shares of Citigroup by 42.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock valued at $990,836,000 after acquiring an additional 4,413,329 shares in the last quarter. Finally, FMR LLC raised its position in shares of Citigroup by 3.8% during the 2nd quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock valued at $7,343,721,000 after acquiring an additional 4,061,637 shares in the last quarter. 80.71% of the stock is currently owned by institutional investors.

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Citigroup Company Profile

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.

Analyst Recommendations for Citigroup (NYSE:C)

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