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

Citigroup Inc. (NYSE:C) – Stock analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share (EPS) estimates for shares of Citigroup in a research report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the company will earn $1.48 per share for the quarter, down from their prior forecast of $1.51. The consensus estimate for Citigroup’s current full-year earnings is $5.86 per share.

A number of other analysts have also recently weighed in on the stock. Evercore ISI raised their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Royal Bank of Canada raised their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Citigroup in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.03.

Citigroup Price Performance

Shares of NYSE:C opened at $64.68 on Wednesday. Citigroup has a 52 week low of $38.17 and a 52 week high of $64.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $123.37 billion, a P/E ratio of 19.14, a PEG ratio of 0.97 and a beta of 1.46. The firm’s 50 day moving average is $62.15 and its two-hundred day moving average is $58.18.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems grew its position in Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after purchasing an additional 3,808 shares during the last quarter. Simplicity Solutions LLC grew its position in Citigroup by 17.6% in the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after purchasing an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Citigroup by 56.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after acquiring an additional 449,310 shares in the last quarter. GFS Advisors LLC acquired a new stake in shares of Citigroup during the 4th quarter valued at about $2,003,000. Finally, TD Asset Management Inc boosted its position in shares of Citigroup by 21.8% during the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after acquiring an additional 173,137 shares in the last quarter. Institutional investors 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.