Evercore ISI Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its price objective increased by stock analysts at Evercore ISI from $69.00 to $79.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 0.91% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday. Finally, Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.13.

Citigroup Price Performance

Shares of C traded up $0.02 on Thursday, hitting $78.29. The company’s stock had a trading volume of 11,073,225 shares, compared to its average volume of 17,737,295. The company has a market capitalization of $148.07 billion, a PE ratio of 22.69, a PEG ratio of 0.59 and a beta of 1.43. Citigroup has a fifty-two week low of $50.51 and a fifty-two week high of $79.25. The company has a 50 day moving average price of $70.78 and a 200 day moving average price of $65.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, research analysts anticipate that Citigroup will post 5.88 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Citigroup

Several institutional investors and hedge funds have recently made changes to their positions in C. Mechanics Bank Trust Department bought a new position in shares of Citigroup during the 4th quarter valued at about $216,000. Diversify Advisory Services LLC lifted its stake in Citigroup by 1.9% in the fourth quarter. Diversify Advisory Services LLC now owns 12,225 shares of the company’s stock valued at $873,000 after buying an additional 225 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Citigroup by 2.2% in the fourth quarter. Diversify Wealth Management LLC now owns 13,553 shares of the company’s stock valued at $968,000 after buying an additional 291 shares during the period. Successful Portfolios LLC acquired a new position in shares of Citigroup in the fourth quarter valued at approximately $209,000. Finally, Grove Bank & Trust increased its position in shares of Citigroup by 17.0% during the fourth quarter. Grove Bank & Trust now owns 3,000 shares of the company’s stock worth $211,000 after acquiring an additional 436 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

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.