Citigroup, Inc. (C) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Citigroup, Inc. (C), headquartered in New York City and founded in 1812, stands as a diversified financial services holding company catering to a global clientele that includes consumers, corporations, governments, and institutions. The firm operates through five primary segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. Notably, the Services segment offers cash management and trade solutions, while the Markets segment emphasizes sales and trading across multiple asset classes. Citigroup’s extensive banking services encompass investment banking and corporate lending, reinforcing its status as a key player in the financial services sector.
Investment Outlook
Currently priced at $62.14, Citigroup’s stock presents an optimistic investment opportunity with a target high price of $87.00, bolstered by a robust total revenue of approximately $69.75 billion. Financial analysts have assigned a mean price target of $71.72, reflecting moderate growth expectations. The consensus recommendation trend favors a “buy,” supported by the rating average of 2.1 from 19 analysts. The target price range, with lows at $57.40 and highs at $87.00, underscores the stock’s promising potential for investors seeking stable returns in the banking industry, particularly as Citigroup maintains a strong financial foundation.
Market Activity and Sentiment
Citigroup has approximately 1.91 billion shares outstanding, with about 37.85 million shares shorted, equating to roughly 1.99% of the float – comprising around 1.85 billion shares available for trading. This relatively low short interest indicates that market sentiment leans towards stability rather than bearishness. The stock has been performing well, trading above its fifty-day moving average of $61.3322 and approaching a fifty-two week high of $67.81, suggesting a bullish trend amid recovery from a low of $38.17 within the past year. Investors should consider these dynamics as key indicators of potential growth and the overall market sentiment surrounding Citigroup’s stock.
| Metric | Value |
|---|---|
| Market Cap | $118.6b |
| Total Debt | $674.3b |
| Total Cash | $779.8b |
| Shares Outstanding | 1.9b |
| Float Shares | 1.8b |
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