HSBC Securities slashes price target on Citigroup Inc [C] – find out why.

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Citigroup Inc [NYSE: C] stock went on an upward path that rose over 1.40% on Friday, amounting to a one-week price decrease of less than -0.43%. The company report on November 10, 2023 at 7:30 AM that Chesapeake Utilities Announces Pricing of Public Offering of Common Stock.

Chesapeake Utilities Corporation (NYSE: CPK) today announced the pricing of an underwritten public offering of 3,859,649 shares of its common stock at an offering price of $85.50 per share. In connection with the offering, the underwriters have been granted a 30-day option to purchase up to 578,947 additional shares of the Company’s common stock. The offering is expected to close on November 14, 2023, subject to the satisfaction of customary closing conditions. The net proceeds from the offering, after deducting underwriting discounts and commissions and before estimated offering expenses, are expected to be $319.2 million (not including any exercise by the underwriters of their option to purchase additional shares). The net proceeds will be used to fund, in part, the acquisition of Florida City Gas, which is expected to close in the fourth quarter of 2023, and to pay related fees and expenses.

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Barclays Capital Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as joint lead book-running managers for the offering. Citizens JMP Securities, LLC, PNC Capital Markets LLC, M&T Securities, Inc. and Janney Montgomery Scott LLC are acting as senior co-managers for the offering. Ladenburg Thalmann & Co. Inc., Maxim Group LLC, Sidoti & Company, LLC and Siebert Williams Shank & Co. LLC acted as co-managers for the offering.

Over the last 12 months, C stock dropped by -7.23%. The one-year Citigroup Inc stock forecast points to a potential upside of 15.74. The average equity rating for C stock is currently 2.38, trading closer to a bullish pattern in the stock market.

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The market cap for the stock reached $80.54 billion, with 1.94 billion shares outstanding and 1.91 billion shares in the current float. Compared to the average trading volume of 17.33M shares, C stock reached a trading volume of 11895357 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $49.94 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 2.38. 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.

HSBC Securities have made an estimate for Citigroup Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 07, 2023.

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The Average True Range (ATR) for Citigroup Inc is set at 0.87, with the Price to Sales ratio for C stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 0.42.

C Stock Performance Analysis:

Citigroup Inc [C] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.43. With this latest performance, C shares gained by 1.32% in over the last four-week period, additionally sinking by -7.41% over the last 6 months – not to mention a drop of -7.23% 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 59.92, with the RSI for the last a single of trading hit 64.73, and the three-weeks RSI is set at 56.06 for Citigroup Inc [C]. The present Moving Average for the last 50 days of trading for this stock 40.90, while it was recorded at 41.88 for the last single week of trading, and 45.44 for the last 200 days.

Insight into Citigroup Inc Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Citigroup Inc [C] shares currently have an operating margin of +19.00. Citigroup Inc’s Net Margin is presently recorded at +14.73.

Return on Total Capital for C is now 2.75, given the latest momentum, and Return on Invested Capital for the company is 3.45. Return on Equity for this stock inclined to 7.42, with Return on Assets sitting at 0.63. When it comes to the capital structure of this company, Citigroup Inc [C] has a Total Debt to Total Equity ratio set at 260.56. Additionally, C Total Debt to Total Capital is recorded at 72.27, with Total Debt to Total Assets ending up at 21.64. Long-Term Debt to Equity for the company is recorded at 132.56, with the Long-Term Debt to Total Capital now at 33.29.

Reflecting on the efficiency of the workforce at the company, Citigroup Inc [C] managed to generate an average of $62,346 per employee.Citigroup Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.49.

C Stock EPS

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 1.13%.

Citigroup Inc [C] Institutonal Ownership Details

The top three institutional holders of C stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in C stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in C stock with ownership which is approximately 5.7994%.

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