Citigroup (C) Given New $84.00 Price Target at Nomura

Citigroup (NYSE:C) had its price target increased by Nomura to $84.00 in a report published on Monday. Nomura currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods set a $75.00 price objective on shares of Citigroup and gave the company a buy rating in a research note on Sunday, August 13th. Credit Suisse Group reiterated a buy rating and set a $83.00 price objective (up previously from $73.00) on shares of Citigroup in a research note on Monday, October 9th. They noted that the move was a valuation call. Wells Fargo & Company reiterated a buy rating on shares of Citigroup in a research note on Monday, October 2nd. Royal Bank of Canada restated a buy rating and set a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. Finally, BidaskClub upgraded shares of Citigroup from a hold rating to a buy rating in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $76.54.

Shares of Citigroup (C) opened at $73.92 on Monday. Citigroup has a 12 month low of $55.23 and a 12 month high of $77.92. The company has a market cap of $198,670.31, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11.

Citigroup (NYSE:C) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same quarter last year, the business earned $1.24 earnings per share. Citigroup’s revenue was up 2.3% compared to the same quarter last year. equities research analysts forecast that Citigroup will post 5.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.73%. Citigroup’s payout ratio is 24.66%.

Hedge funds have recently added to or reduced their stakes in the business. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Citigroup by 0.8% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 40 shares in the last quarter. Leisure Capital Management raised its holdings in Citigroup by 1.6% in the 2nd quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 59 shares during the period. Regal Investment Advisors LLC raised its holdings in Citigroup by 2.0% in the 1st quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 74 shares during the period. Halbert Hargrove Russell LLC raised its holdings in Citigroup by 1.6% in the 2nd quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 74 shares during the period. Finally, Usca Ria LLC raised its holdings in Citigroup by 0.3% in the 2nd quarter. Usca Ria LLC now owns 34,375 shares of the financial services provider’s stock worth $2,299,000 after acquiring an additional 90 shares during the period. Institutional investors own 78.59% of the company’s stock.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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