Brokers Offer Predictions for Citigroup Inc.’s Q3 2024 Earnings (NYSE:C)

Citigroup Inc. (NYSE:C) – Equities research analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share (EPS) estimates for shares of Citigroup in a report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the company will earn $1.48 per share for the quarter, down from their prior forecast of $1.51. The consensus estimate for Citigroup’s current full-year earnings is $5.85 per share.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year.

Several other equities analysts also recently commented on C. Piper Sandler raised their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Evercore ISI lifted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Citigroup in a research note on Thursday, June 20th. HSBC lifted their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada lifted their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.16.

Citigroup Stock Down 0.3 %

C opened at $64.46 on Wednesday. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $65.22. The business has a 50-day moving average of $62.19 and a 200-day moving average of $58.23. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $122.95 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46.

Institutional Investors Weigh In On Citigroup

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beacon Capital Management LLC lifted its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Citigroup in the 4th quarter valued at $26,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup in the 4th quarter valued at $29,000. Beaird Harris Wealth Management LLC lifted its stake in shares of Citigroup by 1,962.1% in the 4th 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 last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Citigroup in the 4th quarter valued at $35,000. 71.72% of the stock is currently owned by institutional investors.

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.