Citigroup Inc. Forecasted to Post Q2 2024 Earnings of $1.43 Per Share (NYSE:C)

Citigroup Inc. (NYSE:C) – Stock analysts at Seaport Res Ptn upped their Q2 2024 EPS estimates for Citigroup in a report released on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now anticipates that the company will earn $1.43 per share for the quarter, up from their previous estimate of $1.41. The consensus estimate for Citigroup’s current full-year earnings is $5.85 per share.

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

Several other equities research analysts also recently commented on C. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 target price on shares of Citigroup in a research report on Monday, April 1st. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Finally, Piper Sandler boosted their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $65.16.

Citigroup Price Performance

Shares of NYSE C opened at $64.46 on Thursday. The firm’s 50-day moving average price is $62.19 and its 200-day moving average price is $58.23. Citigroup has a 1-year low of $38.17 and a 1-year high of $65.22. The firm has a market capitalization of $122.95 billion, a P/E ratio of 19.07, a P/E/G ratio of 0.97 and a beta of 1.46. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. grew its position in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after acquiring an additional 164 shares during the period. NorthRock Partners LLC lifted its stake in shares of Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares in the last quarter. Family Legacy Inc. lifted its stake in shares of Citigroup by 2.9% during the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock valued at $400,000 after buying an additional 179 shares in the last quarter. Accel Wealth Management lifted its stake in shares of Citigroup by 3.9% during the 1st quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock valued at $311,000 after buying an additional 185 shares in the last quarter. Finally, Massachusetts Wealth Management lifted its stake in shares of Citigroup by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after buying an additional 192 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

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.