Wells Fargo & Company Reiterates Overweight Rating for Citigroup (NYSE:C)

Citigroup (NYSE:CGet Free Report)‘s stock had its “overweight” rating reaffirmed by equities researchers at Wells Fargo & Company in a research report issued on Monday, Benzinga reports. They presently have a $80.00 price objective on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 27.33% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Piper Sandler upgraded Citigroup from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $63.00 in a report on Wednesday, February 14th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, January 3rd. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $65.00 in a research report on Tuesday, January 30th. Finally, HSBC raised their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.56.

Get Our Latest Report on C

Citigroup Price Performance

Shares of C opened at $62.83 on Monday. Citigroup has a 52-week low of $38.17 and a 52-week high of $63.90. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50 day moving average price is $56.94 and its two-hundred day moving average price is $49.59. The firm has a market cap of $120.34 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.76 and a beta of 1.52.

Citigroup (NYSE:CGet Free Report) last issued its quarterly earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion during the quarter, compared to analyst estimates of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. Citigroup’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. On average, equities analysts anticipate that Citigroup will post 5.83 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC bought a new stake in shares of Citigroup during the 3rd quarter valued at about $25,000. Orion Capital Management LLC purchased a new position in shares of Citigroup during the 4th quarter valued at about $26,000. GHP Investment Advisors Inc. raised its holdings in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after buying an additional 290 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of Citigroup during the 1st quarter valued at about $28,000. Finally, AlphaMark Advisors LLC raised its holdings in shares of Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

About Citigroup

(Get Free Report)

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.

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Analyst Recommendations for Citigroup (NYSE:C)

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