Equities Analysts Offer Predictions for Citigroup Inc.’s Q3 2024 Earnings (NYSE:C)

by · The Markets Daily

Citigroup Inc. (NYSE:C – Free Report) – Stock analysts at Seaport Res Ptn upped their Q3 2024 earnings per share (EPS) estimates for Citigroup in a note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the company will post earnings per share of $1.36 for the quarter, up from their previous forecast of $1.33. The consensus estimate for Citigroup’s current full-year earnings is $5.79 per share.

Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the previous year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis.

Several other brokerages have also weighed in on C. Keefe, Bruyette & Woods upped their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Evercore ISI raised their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Argus lifted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.06.

View Our Latest Stock Report on C

Citigroup Stock Up 1.0 %

C stock opened at $63.24 on Monday. The firm’s 50-day moving average is $60.58 and its two-hundred day moving average is $61.81. The company has a market capitalization of $120.63 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. Citigroup has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Institutional Investors Weigh In On Citigroup

A number of large investors have recently bought and sold shares of C. POM Investment Strategies LLC acquired a new position in Citigroup during the second quarter valued at approximately $25,000. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after acquiring an additional 569 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the second quarter valued at about $32,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.54%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Citigroup Company Profile

(Get Free Report)

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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