Seaport Res Ptn Forecasts Stronger Earnings for Citigroup

Citigroup Inc. (NYSE:C) – Equities researchers at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of Citigroup in a research note issued on Wednesday, October 16th. Seaport Res Ptn analyst J. Mitchell now anticipates that the company will post earnings per share of $5.77 for the year, up from their previous forecast of $5.70. The consensus estimate for Citigroup’s current full-year earnings is $5.76 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q4 2024 earnings at $1.16 EPS and Q2 2025 earnings at $1.89 EPS.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the firm earned $1.52 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis.

A number of other equities research analysts have also recently commented on C. BMO Capital Markets increased their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Piper Sandler increased their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer cut their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America raised their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Price Performance

Citigroup stock opened at $62.85 on Friday. The firm has a market capitalization of $119.87 billion, a PE ratio of 17.60, a P/E/G ratio of 0.74 and a beta of 1.44. Citigroup has a 52 week low of $38.17 and a 52 week high of $67.81. The firm’s 50-day simple moving average is $61.35 and its 200 day simple moving average is $61.92. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Institutional Trading of Citigroup

Several institutional investors have recently added to or reduced their stakes in C. Spectrum Financial Alliance Ltd LLC raised its stake in Citigroup by 2.2% during the third quarter. Spectrum Financial Alliance Ltd LLC now owns 569,873 shares of the company’s stock valued at $35,674,000 after buying an additional 12,238 shares in the last quarter. Everett Harris & Co. CA raised its position in shares of Citigroup by 18.0% during the 3rd quarter. Everett Harris & Co. CA now owns 23,131 shares of the company’s stock valued at $1,448,000 after acquiring an additional 3,523 shares in the last quarter. Clarity Wealth Advisors LLC lifted its stake in Citigroup by 7.5% during the third quarter. Clarity Wealth Advisors LLC now owns 75,632 shares of the company’s stock worth $4,735,000 after purchasing an additional 5,270 shares during the last quarter. Raymond James & Associates boosted its holdings in Citigroup by 16.6% in the third quarter. Raymond James & Associates now owns 1,987,362 shares of the company’s stock worth $124,409,000 after purchasing an additional 282,825 shares during the period. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Citigroup by 4.8% during the third quarter. First Citizens Bank & Trust Co. now owns 5,418 shares of the company’s stock worth $339,000 after purchasing an additional 246 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

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.