Citigroup Inc. [C] stock Downgrade by Credit Suisse analyst, price target now $58


Citigroup Inc. [NYSE: C] traded at a low on 06/17/22, posting a -0.79 loss after which it closed the day’ session at $46.52. The company report on June 15, 2022 that Citi Raises Base Rate.

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Citibank, N.A. said today it has raised its base lending rate to 4.75% from 4.00%, effective tomorrow, Thursday, June 16, 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.

The results of the trading session contributed to over 35070734 shares changing hands. Over the past one week, the price volatility of Citigroup Inc. stands at 3.07% while the volatility over the past one month is 2.94%.

The market cap for C stock reached $91.06 billion, with 1.97 billion shares outstanding and 1.91 billion shares in the current float. Compared to the average trading volume of 24.78M shares, C reached a trading volume of 35070734 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $64.81 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 2.40. 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.

Credit Suisse have made an estimate for Citigroup Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 27, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $75 to $60. The new note on the price target was released on March 28, 2022, representing the official price target for Citigroup Inc. stock. Previously, the target price had yet another drop from $79 to $60, while Jefferies kept a Hold rating on C stock. On March 03, 2022, analysts decreased their price target for C shares from 81 to 64.

The Average True Range (ATR) for Citigroup Inc. is set at 1.78, with the Price to Sales ratio for C stock in the period of the last 12 months amounting to 1.78. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 491.10. Price to Free Cash Flow for C in the course of the last twelve months was 5.73.

How has C stock performed recently?

Citigroup Inc. [C] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.49. With this latest performance, C shares dropped by -5.68% in over the last four-week period, additionally sinking by -23.83% over the last 6 months – not to mention a drop of -31.19% 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 37.10, with the RSI for the last a single of trading hit 33.51, and the three-weeks RSI is set at 39.18 for Citigroup Inc. [C]. The present Moving Average for the last 50 days of trading for this stock 50.33, while it was recorded at 46.53 for the last single week of trading, and 61.06 for the last 200 days.

Citigroup Inc. [C]: Deeper insight into the fundamentals

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.

Earnings analysis for Citigroup Inc. [C]

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 -9.79%.

Insider trade positions for Citigroup Inc. [C]

There are presently around $67,118 million, or 76.10% of C stock, in the hands of institutional investors. The top three institutional holders of C stocks are: VANGUARD GROUP INC with ownership of 168,683,301, which is approximately 2.241% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 164,865,664 shares of the stock with an approximate value of $7.67 billion in C stocks shares; and STATE STREET CORP, currently with $4.34 billion in C stock with ownership of nearly 1.351% of the company’s market capitalization.

845 institutional holders increased their position in Citigroup Inc. [NYSE:C] by around 113,973,339 shares. Additionally, 913 investors decreased positions by around 167,987,707 shares, while 212 investors held positions by with 1,160,817,626 shares. The mentioned changes placed institutional holdings at 1,442,778,672 shares, according to the latest SEC report filing. C stock had 135 new institutional investments in for a total of 60,302,588 shares, while 194 institutional investors sold positions of 20,296,429 shares during the same period.