Evercore ISI Boosts Citigroup (NYSE:C) Price Target to $62.00

Citigroup (NYSE:C) had its price target upped by equities researchers at Evercore ISI from $60.00 to $62.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective suggests a potential downside of 3.82% from the company’s current price.

C has been the subject of several other research reports. Wells Fargo & Company restated an “overweight” rating and set a $80.00 target price on shares of Citigroup in a research report on Monday, April 1st. Jefferies Financial Group upped their price objective on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Piper Sandler increased their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. HSBC upped their price target on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.16.

Citigroup Stock Performance

NYSE:C opened at $64.46 on Wednesday. The firm has a market capitalization of $122.95 billion, a PE ratio of 19.07, a PEG ratio of 0.99 and a beta of 1.46. The stock’s fifty day moving average is $62.25 and its 200 day moving average is $58.27. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $65.22. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last announced its earnings results 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 business had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup will post 5.85 earnings per share for the current year.

Institutional Trading of Citigroup

Institutional investors have recently modified their holdings of the company. Beacon Capital Management LLC lifted its position in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Citigroup during the fourth quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at $29,000. Beaird Harris Wealth Management LLC boosted its position 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 worth $31,000 after purchasing an additional 569 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Citigroup during the 4th quarter worth $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.