Citigroup Inc. (NYSE:C) Forecasted to Earn Q2 2024 Earnings of $1.43 Per Share

Citigroup Inc. (NYSE:C) – Analysts at Seaport Res Ptn raised their Q2 2024 earnings per share estimates for shares of Citigroup in a report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the company will post earnings of $1.43 per share for the quarter, up from their prior forecast of $1.41. The consensus estimate for Citigroup’s current full-year earnings is $5.85 per share.

C has been the subject of several other reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Royal Bank of Canada upped their target price on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Keefe, Bruyette & Woods upped their target price on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Oppenheimer lowered their target price on Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.16.

Citigroup Price Performance

C opened at $64.46 on Thursday. The business has a fifty day moving average of $62.25 and a 200 day moving average of $58.27. Citigroup has a 52-week low of $38.17 and a 52-week high of $65.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market cap of $122.95 billion, a P/E ratio of 19.07, a PEG ratio of 0.99 and a beta of 1.46.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS.

Institutional Trading of Citigroup

A number of hedge funds have recently modified their holdings of C. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the last quarter. Norges Bank purchased a new stake in shares of Citigroup in the fourth quarter valued at approximately $867,599,000. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after buying an additional 4,620,867 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Citigroup during the 4th quarter valued at approximately $2,109,120,000. Finally, Swedbank AB acquired a new stake in Citigroup in the 1st quarter valued at $253,286,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

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.