Citigroup (NYSE:C) Given New $87.00 Price Target at Oppenheimer

Citigroup (NYSE:C) had its target price reduced by Oppenheimer from $88.00 to $87.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

C has been the subject of several other reports. Evercore ISI lifted their price objective on Citigroup from $58.00 to $60.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Morgan Stanley raised Citigroup from an underweight rating to an overweight rating and lifted their price objective for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. Wolfe Research raised Citigroup from a peer perform rating to an outperform rating and set a $58.00 price objective for the company in a report on Wednesday, January 3rd. Barclays lifted their price objective on Citigroup from $59.00 to $63.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $54.00 to $66.00 and gave the stock a market perform rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of Moderate Buy and an average price target of $62.91.

Citigroup Stock Up 0.3 %

Citigroup stock opened at $58.32 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup has a 1-year low of $38.17 and a 1-year high of $63.90. The company has a market cap of $111.70 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. The stock’s 50 day moving average price is $58.19 and its 200 day moving average price is $51.03.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 earnings per share. On average, sell-side analysts predict that Citigroup will post 5.91 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.64%. Citigroup’s payout ratio is currently 62.72%.

Hedge Funds Weigh In On Citigroup

Several institutional investors have recently added to or reduced their stakes in C. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at about $26,000. Frazier Financial Advisors LLC purchased a new stake in Citigroup during the fourth quarter valued at about $29,000. Beaird Harris Wealth Management LLC grew its position in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Carmel Capital Partners LLC purchased a new stake in Citigroup during the third quarter valued at about $25,000. Finally, SkyView Investment Advisors LLC purchased a new stake in Citigroup during the first quarter valued at about $28,000. 71.72% of the stock is currently 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.