Citigroup Inc (NYSE:C) – Equities researchers at Piper Sandler cut their Q2 2020 earnings estimates for Citigroup in a report issued on Wednesday, July 8th. Piper Sandler analyst J. Harte now forecasts that the financial services provider will earn $0.45 per share for the quarter, down from their previous estimate of $0.85. Piper Sandler currently has a “Overweight” rating and a $56.00 target price on the stock. Piper Sandler also issued estimates for Citigroup’s Q4 2020 earnings at $1.47 EPS and Q1 2021 earnings at $1.93 EPS.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. Citigroup had a return on equity of 9.15% and a net margin of 16.56%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $18.98 billion. During the same period in the previous year, the business earned $1.87 EPS. Citigroup’s revenue for the quarter was up 11.6% compared to the same quarter last year.

A number of other brokerages also recently weighed in on C. Seaport Global Securities began coverage on Citigroup in a report on Wednesday, July 8th. They issued a “buy” rating and a $65.00 price target for the company. Oppenheimer reduced their price objective on Citigroup from $93.00 to $87.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Co boosted their price objective on Citigroup from $60.00 to $72.00 in a research report on Friday, June 5th. ValuEngine upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley boosted their price objective on Citigroup from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.85.

Shares of NYSE C opened at $52.20 on Monday. Citigroup has a twelve month low of $32.00 and a twelve month high of $83.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $109.61 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.82. The business has a 50 day simple moving average of $51.86 and a 200-day simple moving average of $58.19.

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of Citigroup by 12.2% during the fourth quarter. Quadrant Capital Group LLC now owns 23,498 shares of the financial services provider’s stock worth $1,847,000 after purchasing an additional 2,550 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $292,000. Virtus ETF Advisers LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $42,000. Mercer Global Advisors Inc. ADV raised its position in shares of Citigroup by 0.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 35,819 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 210 shares during the period. Finally, Johnson Investment Counsel Inc. raised its position in shares of Citigroup by 19.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 13,604 shares of the financial services provider’s stock worth $1,087,000 after purchasing an additional 2,214 shares during the period. Institutional investors and hedge funds own 77.29% 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 in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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