Citigroup (C) Downgraded to Market Perform at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods lowered shares of Citigroup (NYSE:C) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $82.00 target price on the financial services provider’s stock, down from their prior target price of $90.00.
A number of other equities research analysts have also commented on C. Wells Fargo & Co reaffirmed a buy rating on shares of Citigroup in a research note on Monday, October 2nd. Raymond James Financial reaffirmed an underperform rating on shares of Citigroup in a research note on Wednesday, September 27th. Deutsche Bank reaffirmed a hold rating and issued a $67.00 price objective (up from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Atlantic Securities reaffirmed an overweight rating and issued a $85.00 price objective (up from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, BidaskClub raised shares of Citigroup from a buy rating to a strong-buy rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $79.30.
Citigroup (C) traded up $0.49 on Tuesday, reaching $77.88. 7,093,008 shares of the company’s stock were exchanged, compared to its average volume of 16,460,000. Citigroup has a 52-week low of $55.23 and a 52-week high of $78.44. 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 cap of $205,990.00, a price-to-earnings ratio of -26.95, a price-to-earnings-growth ratio of 1.21 and a beta of 1.56.
Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period in the prior year, the firm posted $1.14 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. research analysts expect that Citigroup will post 6.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.64%. Citigroup’s dividend payout ratio is presently -44.29%.
A number of hedge funds and other institutional investors have recently modified their holdings of C. FMR LLC raised its holdings in Citigroup by 3.8% during the second quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock worth $7,343,721,000 after buying an additional 4,061,637 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Citigroup by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 46,110,561 shares of the financial services provider’s stock worth $3,083,874,000 after buying an additional 2,943,282 shares during the last quarter. Harris Associates L P raised its holdings in Citigroup by 0.5% during the second quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock worth $2,765,551,000 after buying an additional 221,171 shares during the last quarter. Northern Trust Corp raised its holdings in Citigroup by 3.1% during the second quarter. Northern Trust Corp now owns 34,097,795 shares of the financial services provider’s stock worth $2,280,461,000 after buying an additional 1,011,532 shares during the last quarter. Finally, Boston Partners raised its holdings in Citigroup by 3.4% during the third quarter. Boston Partners now owns 24,591,045 shares of the financial services provider’s stock worth $1,788,752,000 after buying an additional 817,162 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.
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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.
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