Oppenheimer Increases Citigroup (NYSE:C) Price Target to $92.00

by · The Cerbat Gem

Citigroup (NYSE:C – Free Report) had its price objective lifted by Oppenheimer from $87.00 to $92.00 in a report published on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group reduced their price target on Citigroup from $75.00 to $71.00 and set a buy rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley lifted their target price on shares of Citigroup from $79.00 to $86.00 and gave the stock an overweight rating in a research note on Monday, September 30th. BMO Capital Markets increased their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a market perform rating in a research report on Thursday, July 11th. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a buy rating in a research report on Monday, July 15th. Finally, Evercore ISI increased their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an in-line rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $69.06.

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Citigroup Price Performance

Shares of Citigroup stock opened at $62.64 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a fifty day moving average of $60.66 and a 200-day moving average of $61.74. The stock has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the prior year, the business posted $1.37 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Citigroup will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.58%. Citigroup’s payout ratio is currently 62.75%.

Institutional Trading of Citigroup

A number of hedge funds have recently modified their holdings of the business. POM Investment Strategies LLC bought a new stake in shares of Citigroup in the 2nd quarter worth approximately $25,000. Beacon Capital Management LLC raised its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC raised its stake in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after buying an additional 569 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Citigroup during the second quarter valued at $32,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

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Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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