Citigroup (C) PT Lowered to $76.00

Citigroup (NYSE:C) had its price target trimmed by Morgan Stanley from $81.00 to $76.00 in a research note issued to investors on Tuesday. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also issued reports on C. Wolfe Research began coverage on Citigroup in a research report on Tuesday, September 25th. They set an outperform rating on the stock. Deutsche Bank upped their price target on Citigroup from $76.00 to $82.00 and gave the company a buy rating in a research report on Thursday, September 27th. Vining Sparks reissued a buy rating and set a $77.00 price target on shares of Citigroup in a research report on Tuesday, October 9th. ValuEngine lowered Citigroup from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Finally, BMO Capital Markets upped their price target on Citigroup to $92.00 and gave the company a market perform rating in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $79.52.

Shares of C stock traded up $0.71 on Tuesday, hitting $57.15. 6,926,039 shares of the stock traded hands, compared to its average volume of 23,926,572. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.32. The firm has a market cap of $144.90 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.66 and a beta of 1.56. Citigroup has a 1-year low of $48.42 and a 1-year high of $80.70.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.07. The business had revenue of $18.39 billion for the quarter, compared to analyst estimates of $18.43 billion. Citigroup had a positive return on equity of 9.42% and a negative net margin of 4.81%. During the same period in the prior year, the company posted $1.42 EPS. On average, research analysts forecast that Citigroup will post 6.63 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of C. Csenge Advisory Group bought a new position in shares of Citigroup in the third quarter worth $104,000. Arlington Partners LLC bought a new position in Citigroup during the third quarter valued at about $143,000. Almanack Investment Partners LLC. bought a new position in Citigroup during the third quarter valued at about $150,000. Peoples Financial Services CORP. boosted its stake in Citigroup by 82.8% during the third quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,000 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Citigroup during the third quarter valued at about $166,000. Hedge funds and other institutional investors own 72.67% of the company’s stock.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

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