Citigroup (NYSE:C) Downgraded to “C+” at TheStreet

TheStreet cut shares of Citigroup (NYSE:CGet Rating) from a b- rating to a c+ rating in a research report sent to investors on Tuesday morning, TheStreetRatingsTable reports.

Several other research analysts have also issued reports on C. Barclays lowered their target price on Citigroup from $73.00 to $67.00 and set an equal weight rating for the company in a research report on Wednesday, April 6th. Morgan Stanley lowered Citigroup from an equal weight rating to an underweight rating and lowered their target price for the stock from $75.00 to $60.00 in a research report on Monday, March 28th. Oppenheimer lowered their target price on Citigroup from $100.00 to $93.00 in a research report on Tuesday, May 3rd. Atlantic Securities lowered Citigroup from an overweight rating to a neutral rating and set a $70.00 target price for the company. in a research report on Thursday, March 3rd. Finally, StockNews.com initiated coverage on Citigroup in a research report on Thursday, March 31st. They set a hold rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $69.87.

NYSE C opened at $47.20 on Tuesday. The business has a fifty day moving average price of $50.22 and a two-hundred day moving average price of $56.95. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.92 and a quick ratio of 0.92. Citigroup has a fifty-two week low of $45.40 and a fifty-two week high of $74.64. The stock has a market capitalization of $93.50 billion, a PE ratio of 5.57, a PEG ratio of 0.62 and a beta of 1.60.

Citigroup (NYSE:CGet Rating) last announced 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 return on equity of 10.96% and a net margin of 22.95%. The company had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.12 billion. During the same period in the prior year, the company earned $3.62 EPS. Citigroup’s revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Citigroup will post 6.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders 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 dividend payout ratio is currently 24.06%.

Institutional investors have recently bought and sold shares of the business. New England Professional Planning Group Inc. bought a new stake in shares of Citigroup in the 1st quarter worth approximately $227,000. Disciplined Investments LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $26,000. Outfitter Financial LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Citigroup in the 4th quarter worth approximately $31,000. Finally, FSB Premier Wealth Management Inc. bought a new stake in shares of Citigroup in the 4th quarter worth approximately $31,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

About Citigroup (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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