Citigroup Inc. [C] stock Downgrade by Morgan Stanley analyst, price target now $60

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Citigroup Inc. [NYSE: C] gained 0.60% or 0.31 points to close at $51.62 with a heavy trading volume of 25901637 shares. The company report on May 4, 2022 that Citi Raises Base Rate.

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Citibank, N.A. said today it has raised its base lending rate to 4.00% from 3.50%, effective tomorrow, Thursday, May 5, 2022.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

It opened the trading session at $51.24, the shares rose to $52.00 and dropped to $50.58, the range by which the price of stock traded the whole day. The daily chart for C points out that the company has recorded -22.96% loss over the past six months. However, it is still -8.04% lower than its most recent low trading price.

If we look at the average trading volume of 27.42M shares, C reached to a volume of 25901637 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Citigroup Inc. [C]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for C shares is $66.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on C stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Citigroup Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 28, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $79 to $60. The new note on the price target was released on March 07, 2022, representing the official price target for Citigroup Inc. stock. Previously, the target price had yet another drop from $81 to $64, while Keefe Bruyette kept a Mkt Perform rating on C stock.

The Average True Range (ATR) for Citigroup Inc. is set at 1.53, with the Price to Sales ratio for C stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 464.98. Price to Free Cash Flow for C in the course of the last twelve months was 1.92.

Trading performance analysis for C stock

Citigroup Inc. [C] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.07. With this latest performance, C shares gained by 2.16% in over the last four-week period, additionally sinking by -22.96% over the last 6 months – not to mention a drop of -31.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for C stock in for the last two-week period is set at 48.69, with the RSI for the last a single of trading hit 53.58, and the three-weeks RSI is set at 45.50 for Citigroup Inc. [C]. The present Moving Average for the last 50 days of trading for this stock 53.80, while it was recorded at 50.79 for the last single week of trading, and 64.07 for the last 200 days.

Citigroup Inc. [C]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Citigroup Inc. [C] shares currently have an operating margin of +34.52. Citigroup Inc.’s Net Margin is presently recorded at +27.18.

Return on Equity for this stock inclined to 10.86, with Return on Assets sitting at 0.96.

Citigroup Inc. [C]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for C. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Citigroup Inc. go to -9.78%.

An analysis of insider ownership at Citigroup Inc. [C]

There are presently around $76,208 million, or 76.60% of C stock, in the hands of institutional investors. The top three institutional holders of C stocks are: VANGUARD GROUP INC with ownership of 164,986,164, which is approximately -1.363% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 160,163,284 shares of the stock with an approximate value of $8.27 billion in C stocks shares; and STATE STREET CORP, currently with $4.75 billion in C stock with ownership of nearly 1.19% of the company’s market capitalization.

936 institutional holders increased their position in Citigroup Inc. [NYSE:C] by around 115,198,258 shares. Additionally, 815 investors decreased positions by around 146,305,208 shares, while 213 investors held positions by with 1,214,814,465 shares. The mentioned changes placed institutional holdings at 1,476,317,931 shares, according to the latest SEC report filing. C stock had 202 new institutional investments in for a total of 17,565,002 shares, while 168 institutional investors sold positions of 11,159,266 shares during the same period.