HSBC Boosts Citigroup (NYSE:C) Price Target to $70.00

Citigroup (NYSE:C) had its price target increased by analysts at HSBC from $61.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HSBC’s target price would suggest a potential upside of 11.55% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Barclays upped their price objective on Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $46.00 to $65.00 in a research report on Tuesday, January 30th. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price on the stock. in a research report on Wednesday, January 10th. Finally, Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $59.56.

Citigroup Stock Performance

C opened at $62.75 on Thursday. The firm’s 50-day moving average price is $56.06 and its 200-day moving average price is $48.95. The company has a market cap of $120.18 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.50. Citigroup has a 52-week low of $38.17 and a 52-week high of $62.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its earnings results on Friday, January 12th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). The firm had revenue of $17.44 billion during the quarter, compared to analysts’ expectations of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. Citigroup’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, equities analysts anticipate that Citigroup will post 5.83 EPS for the current fiscal year.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently modified their holdings of C. Massachusetts Wealth Management grew its position in shares of Citigroup by 0.5% during the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after buying an additional 192 shares in the last quarter. Founders Capital Management boosted its holdings in Citigroup by 12.5% in the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock valued at $93,000 after purchasing an additional 200 shares in the last quarter. Cowa LLC boosted its holdings in Citigroup by 3.1% in the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after purchasing an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in Citigroup by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after purchasing an additional 200 shares in the last quarter. Finally, Rossmore Private Capital boosted its holdings in Citigroup by 1.5% in the fourth quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock valued at $710,000 after purchasing an additional 200 shares in the last quarter. 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.