Citigroup (NYSE:C) PT Raised to $86.00 at Morgan Stanley

Citigroup (NYSE:C) had its price target lifted by stock analysts at Morgan Stanley from $79.00 to $86.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 39.09% from the company’s previous close.

Several other brokerages also recently commented on C. BMO Capital Markets boosted their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Piper Sandler boosted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Argus lifted their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Evercore ISI lifted their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.69.

Citigroup Stock Performance

Shares of C opened at $61.83 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup has a one year low of $38.17 and a one year high of $67.81. The firm has a market capitalization of $117.94 billion, a P/E ratio of 17.32, a PEG ratio of 0.69 and a beta of 1.45. The business has a fifty day moving average of $60.76 and a 200 day moving average of $61.74.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) 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 business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. Citigroup’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup will post 5.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the second quarter valued at about $25,000. Beacon Capital Management LLC increased its holdings in shares of Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in shares of Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup in the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Citigroup in the second quarter valued at about $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

About Citigroup

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.