Vining Sparks restated their buy rating on shares of Citigroup (NYSE:C) in a research note released on Monday. Vining Sparks currently has a $82.00 target price on the financial services provider’s stock.
“Most importantly, Citigroup was able to produce a return-on-tangible common equity in 1Q’18 that finally exceeded 10%. This is an important inflection point, that was obviously helped along due to the lower federal tax rate, but nonetheless begins to position Citigroup for another round of upside potential in its valuation. We have been highlighting Citigroup as a trade which was bound by its tangible book value on the lower end and a 20% premium to its tangible book value at the upper end. Now as Citigroup can sustain returns that exceed its cost of equity, we believe that its price-to-tangible book value can disconnect from this range and begin to move higher. We have increased our price target to 128% of Citigroup’s expected year-end 2018E tangible book value, with the potential to move higher if Citigroup’s ROTCE improves further.”,” the firm’s analyst commented.
Other equities research analysts have also issued reports about the company. Nomura set a $87.00 target price on Citigroup and gave the company a buy rating in a research report on Wednesday, January 17th. JPMorgan Chase set a $80.00 price target on Citigroup and gave the company a buy rating in a report on Wednesday, January 17th. Wells Fargo set a $100.00 price target on Citigroup and gave the company a buy rating in a report on Wednesday, January 17th. Credit Suisse Group reiterated a buy rating and issued a $86.00 price target on shares of Citigroup in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded Citigroup from a hold rating to a buy rating and set a $89.00 price target on the stock in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $81.01.
Shares of NYSE C opened at $70.07 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $182,500.39, a price-to-earnings ratio of 12.57, a PEG ratio of 1.01 and a beta of 1.56. Citigroup has a twelve month low of $57.55 and a twelve month high of $80.70.
Citigroup (NYSE:C) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.07. The business had revenue of $18.87 billion during the quarter, compared to analyst estimates of $18.89 billion. Citigroup had a positive return on equity of 7.95% and a negative net margin of 6.28%. Citigroup’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 EPS. research analysts expect that Citigroup will post 6.41 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in C. Principal Financial Group Inc. grew its stake in Citigroup by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 4,869,619 shares of the financial services provider’s stock valued at $354,216,000 after purchasing an additional 717,320 shares during the last quarter. Prudential Financial Inc. grew its stake in Citigroup by 17.0% during the 3rd quarter. Prudential Financial Inc. now owns 7,514,341 shares of the financial services provider’s stock valued at $546,594,000 after purchasing an additional 1,092,980 shares during the last quarter. C WorldWide Group Holding A S grew its stake in Citigroup by 13.1% during the 3rd quarter. C WorldWide Group Holding A S now owns 6,603,267 shares of the financial services provider’s stock valued at $480,322,000 after purchasing an additional 764,249 shares during the last quarter. Macquarie Group Ltd. grew its stake in Citigroup by 3.7% during the 3rd quarter. Macquarie Group Ltd. now owns 363,594 shares of the financial services provider’s stock valued at $26,448,000 after purchasing an additional 13,019 shares during the last quarter. Finally, Harvey Capital Management Inc. grew its stake in Citigroup by 47.6% during the 3rd quarter. Harvey Capital Management Inc. now owns 124,635 shares of the financial services provider’s stock valued at $9,065,000 after purchasing an additional 40,195 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
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Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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