Citigroup (NYSE:C) Price Target Cut to $82.00 by Analysts at Morgan Stanley

Citigroup (NYSE:C) had its target price decreased by Morgan Stanley from $86.00 to $82.00 in a report released on Wednesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other research firms have also weighed in on C. BMO Capital Markets lifted their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI increased their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Price Performance

Shares of NYSE:C opened at $62.85 on Wednesday. Citigroup has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a market cap of $119.88 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company’s 50 day moving average is $61.35 and its 200 day moving average is $61.92.

Citigroup (NYSE:C) last released its quarterly earnings data 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 firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. On average, sell-side analysts forecast that Citigroup will post 5.76 EPS for the current year.

Hedge Funds Weigh In On Citigroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the period. Bank of New York Mellon Corp raised its stake in Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after purchasing an additional 250,716 shares during the period. Legal & General Group Plc boosted its holdings in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares during the last quarter. Greenhaven Associates Inc. grew its stake in shares of Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Citigroup by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock worth $590,106,000 after buying an additional 168,070 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.