ValuEngine Lowers Citigroup (NYSE:C) to Sell

Citigroup (NYSE:C) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

C has been the subject of several other research reports. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and increased their target price for the company from $74.00 to $86.00 in a research note on Friday, July 26th. Zacks Investment Research downgraded Citigroup from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Bank of America downgraded Citigroup to a “hold” rating in a research note on Friday, July 26th. BMO Capital Markets downgraded Citigroup to a “hold” rating in a research note on Friday, July 26th. Finally, Goldman Sachs Group upgraded Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 target price for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $79.57.

C stock traded down $2.81 during mid-day trading on Thursday, hitting $68.35. The stock had a trading volume of 22,253,140 shares, compared to its average volume of 14,908,449. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. Citigroup has a 1-year low of $48.42 and a 1-year high of $75.24. The business’s fifty day moving average price is $70.16. The stock has a market cap of $165.94 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.78 and a beta of 1.74.

Citigroup (NYSE:C) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.17. The company had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, equities analysts anticipate that Citigroup will post 7.55 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its stake in shares of Citigroup by 103.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,389 shares of the financial services provider’s stock valued at $273,000 after buying an additional 2,228 shares during the period. HighPoint Advisor Group LLC boosted its position in shares of Citigroup by 24.5% in the 4th quarter. HighPoint Advisor Group LLC now owns 7,878 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 1,552 shares during the last quarter. Strategy Asset Managers LLC bought a new position in shares of Citigroup in the 1st quarter worth $55,000. Sanders Morris Harris LLC bought a new position in shares of Citigroup in the 2nd quarter worth $514,000. Finally, Front Barnett Associates LLC boosted its position in shares of Citigroup by 0.4% in the 1st quarter. Front Barnett Associates LLC now owns 134,044 shares of the financial services provider’s stock worth $8,340,000 after purchasing an additional 551 shares during the last quarter. 76.05% of the stock is owned by hedge funds and other institutional investors.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading: Arbitrage

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Analyst Recommendations for Citigroup (NYSE:C)

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