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

Citigroup (NYSE:C) had its target price hoisted by Evercore ISI from $69.00 to $79.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 0.91% from the company’s current price.

C has been the subject of several other research reports. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America raised their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.13.

Citigroup Stock Up 0.0 %

NYSE C traded up $0.02 during trading on Thursday, hitting $78.29. The stock had a trading volume of 11,073,225 shares, compared to its average volume of 17,737,295. Citigroup has a 12 month low of $50.51 and a 12 month high of $79.25. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company’s 50-day moving average price is $70.78 and its two-hundred day moving average price is $65.32. The company has a market capitalization of $148.07 billion, a PE ratio of 22.69, a P/E/G ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, sell-side analysts forecast that Citigroup will post 5.88 EPS for the current year.

Citigroup declared that its board has approved a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding 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 management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in C. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter valued at about $31,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup in the second quarter valued at approximately $31,000. GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Citigroup during the fourth quarter worth approximately $44,000. 71.72% of the stock is owned by institutional investors and hedge funds.

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.