Q3 2024 Earnings Estimate for Citigroup Inc. (NYSE:C) Issued By Seaport Res Ptn

Citigroup Inc. (NYSE:C) – Equities researchers at Seaport Res Ptn lifted their Q3 2024 earnings per share estimates for shares of Citigroup in a research note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the company will post earnings per share of $1.36 for the quarter, up from their previous estimate of $1.33. The consensus estimate for Citigroup’s current full-year earnings is $5.79 per share.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the company posted $1.37 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis.

A number of other equities research analysts have also weighed in on C. Morgan Stanley raised their price objective on Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Oppenheimer boosted their price target on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Piper Sandler boosted their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $69.06.

Citigroup Stock Down 0.1 %

Shares of NYSE C opened at $62.60 on Monday. The stock has a fifty day moving average price of $60.61 and a 200 day moving average price of $61.80. 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 $119.41 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.69 and a beta of 1.44. Citigroup has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.58%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Institutional Investors Weigh In On Citigroup

A number of hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. increased its holdings in Citigroup by 1.8% in the 3rd quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock worth $892,000 after acquiring an additional 258 shares during the last quarter. Herbst Group LLC grew its holdings in Citigroup by 16.4% during the 3rd quarter. Herbst Group LLC now owns 18,856 shares of the company’s stock valued at $1,180,000 after buying an additional 2,655 shares in the last quarter. GAMMA Investing LLC grew its holdings in Citigroup by 15.3% during the 3rd quarter. GAMMA Investing LLC now owns 27,073 shares of the company’s stock valued at $1,695,000 after buying an additional 3,601 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Citigroup by 2.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 633,341 shares of the company’s stock valued at $39,647,000 after buying an additional 13,490 shares in the last quarter. Finally, Mirador Capital Partners LP grew its holdings in shares of Citigroup by 6.2% during the third quarter. Mirador Capital Partners LP now owns 25,799 shares of the company’s stock worth $1,615,000 after purchasing an additional 1,513 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

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.