Citigroup Inc. (NYSE: C) stock fell -2.21% on Wednesday to $48.24 against a previous-day closing price of $49.33. With 22.83 million shares changed hands, the volume of the stock remained heavier than its average volume of 17.96 million shares. During the session, the Banks – Diversified company that operates in wider Financial sector, reached to the highest price of $49.47 whereas the lowest price it dropped to was $47.85. The 52-week range on C shows that it touched its highest point at $69.11 and its lowest point at $40.01 during that stretch. It currently has a 1-year price target of $57.03. With its current market cap of 92.65 billion, C has annualized dividend of $2.04 while the current yield stands at 4.23%. Beta for the stock currently stands at 1.58.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of C was down-trending over the past week, with a drop of -0.27%, but this was up by 6.44% over a month. Three-month performance dropped to -7.34% while six-month performance fell -8.46%. The stock lost -29.13% in the past year, while it has lost -20.12% so far this year. A look at the trailing 12-month EPS for C yields 7.42 with Next year EPS estimates of 6.33. For the next quarter, that number is 1.29. This implies an EPS growth rate of 114.40% for this year and -11.09% for next year. EPS is expected to decline by -11.81% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 16.40%.
Float and Shares Shorts:
At present, 1.94 billion C shares are outstanding with a float of 1.93 billion shares on hand for trading. On Oct 13, 2022, short shares totaled 34.63 million, which was 1.79% higher than short shares on Sep 14, 2022. In addition to Ms. Jane Nind Fraser as the firm’s CEO & Director, Mr. Mark A.L. Mason serves as its Chief Financial Officer.
Through their ownership of 73.47% of C’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.35% of C, in contrast to 35.49% held by mutual funds. Shares owned by individuals account for 0.51%. As the largest shareholder in C with 8.11% of the stake, The Vanguard Group, Inc. holds 157,538,139 shares worth 157,538,139. A second-largest stockholder of C, BlackRock Fund Advisors, holds 91,708,968 shares, controlling over 4.72% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in C, holding 85,489,634 shares or 4.40% stake. With a 2.84% stake in C, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 55,197,846 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.28% of C stock, is the second-largest Mutual Fund holder. It holds 44,317,771 shares valued at 2.03 billion. SPDR S&P 500 ETF Trust holds 1.12% of the stake in C, owning 21,814,113 shares worth 1.0 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for C since 28 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 17 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With C analysts setting a high price target of $95.00 and a low target of $42.00, the average target price over the next 12 months is $56.90. Based on these targets, C could surge 96.93% to reach the target high and fall by -12.94% to reach the target low. Reaching the average price target will result in a growth of 17.95% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. C will report FY 2022 earnings on 01/13/2023. Analysts have provided yearly estimates in a range of $7.79 being high and $6.76 being low. For C, this leads to a yearly average estimate of $7.14. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Citigroup Inc. surprised analysts by $0.21 when it reported $1.63 EPS against a consensus estimate of $1.42. The surprise factor in the prior quarter was $0.51. Based on analyst estimates, the high estimate for the next quarter is $1.65 and the low estimate is $0.93. The average estimate for the next quarter is thus $1.30.
Summary of Insider Activity:
Insiders traded C stock several times over the past three months with 17 Buys and 2 Sells. In these transactions, 20,369 shares were bought while 19,405 shares were sold. The number of buy transactions has increased to 108 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 738,226 while 227,870 shares were sold.