Oppenheimer Forecasts Strong Price Appreciation for Citigroup (NYSE:C) Stock

Citigroup (NYSE:C) had its price objective increased by equities researchers at Oppenheimer from $91.00 to $107.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 55.01% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Bank of America raised their price objective on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barclays raised their price target on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Argus boosted their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

Citigroup Stock Up 8.4 %

NYSE:C opened at $69.03 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup has a 12-month low of $41.28 and a 12-month high of $70.09. The stock’s fifty day simple moving average is $62.02 and its 200-day simple moving average is $62.22. The firm has a market capitalization of $131.70 billion, a P/E ratio of 20.01, a P/E/G ratio of 0.71 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) 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 analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share. Equities research analysts expect that Citigroup will post 5.87 earnings per share for the current year.

Hedge Funds Weigh In On Citigroup

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $2,005,749,000 after buying an additional 17,525,484 shares during the period. Swedbank AB bought a new stake in Citigroup in the 1st quarter valued at $253,286,000. Acadian Asset Management LLC raised its stake in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP lifted its holdings in Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. Finally, Capital World Investors boosted its position in Citigroup by 26.1% during the first quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock worth $333,929,000 after purchasing an additional 1,092,980 shares during the period. 71.72% of the stock is owned by institutional investors.

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.