Citigroup (NYSE:C) Downgraded by TheStreet

TheStreet lowered shares of Citigroup (NYSE:CGet Rating) from a b- rating to a c+ rating in a research note released on Tuesday morning, TheStreetRatingsTable reports.

Other research analysts also recently issued research reports about the stock. Oppenheimer lowered their price objective on shares of Citigroup from $100.00 to $93.00 in a research report on Tuesday, May 3rd. Jefferies Financial Group downgraded shares of Citigroup from a buy rating to a hold rating and lowered their price objective for the company from $79.00 to $60.00 in a research report on Monday, March 7th. Piper Sandler lowered their price objective on shares of Citigroup from $80.00 to $70.00 and set an overweight rating on the stock in a research report on Tuesday, April 5th. StockNews.com assumed coverage on shares of Citigroup in a research report on Thursday, March 31st. They set a hold rating on the stock. Finally, Atlantic Securities downgraded shares of Citigroup from an overweight rating to a neutral rating and set a $70.00 price objective on the stock. in a research report on Thursday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup currently has a consensus rating of Hold and a consensus price target of $69.87.

NYSE:C opened at $47.20 on Tuesday. The company’s 50 day moving average price is $50.22 and its 200-day moving average price is $56.95. Citigroup has a 52 week low of $45.40 and a 52 week high of $74.64. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.42. The stock has a market cap of $93.50 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.62 and a beta of 1.60.

Citigroup (NYSE:CGet Rating) last posted its quarterly earnings results on Thursday, April 14th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.28. Citigroup had a net margin of 22.95% and a return on equity of 10.96%. The firm had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.12 billion. During the same quarter in the prior year, the company posted $3.62 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup will post 6.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Monday, May 2nd were given a dividend of $0.51 per share. The ex-dividend date was Friday, April 29th. This represents a $2.04 annualized dividend and a dividend yield of 4.32%. Citigroup’s payout ratio is 24.06%.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Citigroup by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 168,683,301 shares of the company’s stock valued at $9,007,688,000 after purchasing an additional 3,697,137 shares during the period. BlackRock Inc. grew its stake in Citigroup by 2.9% during the first quarter. BlackRock Inc. now owns 164,865,664 shares of the company’s stock valued at $8,803,824,000 after acquiring an additional 4,702,380 shares in the last quarter. State Street Corp grew its stake in Citigroup by 1.4% during the first quarter. State Street Corp now owns 93,306,092 shares of the company’s stock valued at $4,982,545,000 after acquiring an additional 1,244,093 shares in the last quarter. Snider Financial Group grew its stake in Citigroup by 96,645.9% during the first quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Citigroup by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 33,753,519 shares of the company’s stock valued at $2,033,390,000 after acquiring an additional 319,525 shares in the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Citigroup Company Profile (Get Rating)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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