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

Citigroup (NYSE:C) had its target price raised by investment analysts at HSBC from $61.00 to $70.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HSBC’s target price would indicate a potential upside of 11.55% from the stock’s previous close.

A number of other brokerages also recently weighed in on C. BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a research note on Wednesday, January 10th. Barclays lifted their price target on shares of Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $68.00 in a research note on Thursday, March 14th. Finally, Oppenheimer decreased their price target on shares of Citigroup from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.56.

Citigroup Price Performance

C stock opened at $62.75 on Thursday. The company has a fifty day moving average price of $56.06 and a 200-day moving average price of $48.95. The company has a market capitalization of $120.18 billion, a P/E ratio of 15.73, a PEG 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 debt-to-equity ratio of 1.52, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion for the quarter, compared to the consensus estimate of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. Citigroup’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. As a group, equities analysts expect that Citigroup will post 5.83 EPS for the current year.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Carmel Capital Partners LLC purchased a new position in Citigroup in the 3rd quarter worth approximately $25,000. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter worth approximately $26,000. GHP Investment Advisors Inc. grew its stake in Citigroup by 73.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after buying an additional 290 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in Citigroup in the 1st quarter worth approximately $28,000. Finally, AlphaMark Advisors LLC grew its stake in Citigroup by 75.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

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.