Citigroup Inc. Forecasted to Post Q2 2024 Earnings of $1.43 Per Share (NYSE:C)

Citigroup Inc. (NYSE:CFree Report) – Seaport Res Ptn boosted their Q2 2024 earnings per share (EPS) estimates for Citigroup in a report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the company will post earnings of $1.43 per share for the quarter, up from their prior estimate of $1.41. The consensus estimate for Citigroup’s current full-year earnings is $5.85 per share.

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

Other equities research analysts also recently issued reports about the company. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Citigroup in a research report on Thursday, June 20th. Piper Sandler lifted their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Oppenheimer decreased their target price on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Finally, Evercore ISI lifted their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday. One research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.16.

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Citigroup Stock Down 0.3 %

C stock opened at $64.46 on Thursday. Citigroup has a twelve month low of $38.17 and a twelve month high of $65.22. The company has a market cap of $122.95 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The business’s 50-day simple moving average is $62.19 and its 200 day simple moving average is $58.23. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup in the 4th quarter worth $29,000. Beacon Capital Management LLC boosted its stake in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in Citigroup in the 4th quarter worth $35,000. Institutional investors own 71.72% of the company’s stock.

About Citigroup

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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.

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Earnings History and Estimates for Citigroup (NYSE:C)

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