Seaport Res Ptn Increases Earnings Estimates for Citigroup

Citigroup Inc. (NYSE:C) – Investment analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for Citigroup in a research note issued on Wednesday, October 16th. Seaport Res Ptn analyst J. Mitchell now forecasts that the company will post earnings per share of $5.77 for the year, up from their prior estimate of $5.70. The consensus estimate for Citigroup’s current full-year earnings is $5.76 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q4 2024 earnings at $1.16 EPS and Q2 2025 earnings at $1.89 EPS.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $1.52 earnings per share.

C has been the topic of several other reports. Evercore ISI increased their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley lowered their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Down 1.8 %

C stock opened at $62.85 on Friday. The company’s 50 day simple moving average is $61.35 and its 200-day simple moving average is $61.92. The firm has a market capitalization of $119.88 billion, a PE ratio of 17.61, a P/E/G ratio of 0.74 and a beta of 1.44. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

Hedge Funds Weigh In On Citigroup

Hedge funds have recently made changes to their positions in the business. Lloyd Advisory Services LLC. increased its stake in Citigroup by 355.9% during the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after buying an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after buying an additional 8,593 shares during the period. Lazard Asset Management LLC increased its stake in Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after buying an additional 23,774 shares during the period. BDF Gestion purchased a new stake in Citigroup during the 2nd quarter worth $3,861,000. Finally, New Mexico Educational Retirement Board increased its stake in Citigroup by 13.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock worth $7,300,000 after buying an additional 14,100 shares during the period. Hedge funds and other institutional investors 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.