Oppenheimer Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price boosted by Oppenheimer from $91.00 to $107.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also commented on the stock. The Goldman Sachs Group cut their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Piper Sandler increased their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI increased their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Citigroup Price Performance

NYSE C opened at $63.69 on Tuesday. Citigroup has a 52 week low of $41.28 and a 52 week high of $67.81. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The stock has a market cap of $121.51 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company has a 50-day moving average price of $61.98 and a two-hundred day moving average price of $62.19.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. Analysts forecast that Citigroup will post 5.87 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.52%. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MONECO Advisors LLC raised its holdings in shares of Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the last quarter. Lifestyle Asset Management Inc. raised its holdings in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the last quarter. NorthRock Partners LLC raised its holdings in shares of Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its holdings in shares of Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

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.