Wij gebruiken een aantal cookies om u de best mogelijke browser ervaring te bieden. Door deze website te blijven gebruiken, gaat u akkoord met ons gebruik van cookies. U kunt hier meer leren over ons cookie-beleid of door op de link te klikken onderaan iedere pagina van onze website.
Citigroup Inc is trading at $51.24. The share price is up 9% since the company posted its second-quarter figures in July, in which revenue came in at $19.37 billion and EPS at $1.24 — analysts were expecting $18.81 and $1.05 respectively.
The revenue and EPS may have exceeded estimates but the bank was hit by a one-off legal settlement of $7 billion in relation to mortgage-backed securities. Putting aside the large legal bill, the fundamentals of the business are sound, new loans are continuing to grow and the bank’s capital position has been strengthened. Although Citigroup’s revenues derived from trading stocks and bonds declined, this is a common theme among global finance houses.
Equity analysts are very bullish on the bank. Out of the 35 recommendations, 21 are buys, 11 are holds and the remaining three are sells.
The 100-week moving average is providing support at $47.71. If trading revenue picks up and there are no write-downs relating to toxic assets the stock could target $53.75.