Citigroup (NYSE:C) Price Target Cut to $71.00

Citigroup (NYSE:C) had its target price dropped by analysts at The Goldman Sachs Group from $75.00 to $71.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 23.82% from the stock’s previous close.

Several other research firms have also recently issued reports on C. Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer lifted their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Morgan Stanley upped their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Trading Up 0.1 %

NYSE:C opened at $57.34 on Wednesday. Citigroup has a 52 week low of $38.17 and a 52 week high of $67.81. The stock has a market cap of $109.37 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 0.64 and a beta of 1.45. The company’s 50 day moving average price is $61.94 and its 200-day moving average price is $61.28. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. On average, equities research analysts forecast that Citigroup will post 5.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in C. Lazari Capital Management Inc. grew its position in shares of Citigroup by 6.8% during the second quarter. Lazari Capital Management Inc. now owns 13,226 shares of the company’s stock valued at $839,000 after purchasing an additional 843 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Citigroup during the 2nd quarter valued at approximately $8,471,000. Gordian Capital Singapore Pte Ltd bought a new stake in Citigroup in the 2nd quarter worth approximately $370,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter worth approximately $31,000. Finally, Clearbridge Investments LLC boosted its position in shares of Citigroup by 99.2% during the 2nd quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock valued at $2,893,000 after acquiring an additional 22,706 shares during the last quarter. 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.