Evercore ISI Boosts Citigroup (NYSE:C) Price Target to $79.00

Citigroup (NYSE:C) had its target price lifted by investment analysts at Evercore ISI from $69.00 to $79.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective suggests a potential downside of 1.31% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer dropped their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

Shares of C opened at $80.05 on Thursday. The business’s 50 day moving average price is $70.99 and its 200-day moving average price is $65.41. The stock has a market cap of $151.40 billion, a P/E ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43. Citigroup has a 52 week low of $50.51 and a 52 week high of $80.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Citigroup will post 5.88 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Citigroup

Large investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup in the third quarter valued at approximately $31,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter valued at approximately $31,000. GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth about $44,000. Institutional investors and hedge funds 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.