C Stock Forecast: Solid Company from the Finance Sector

July 15, 2024
Aiden ChalemThis C Stock Forecast article was written by Aiden Chalem – Financial Analyst at I Know First.

Summary

  • Citigroup reported an EPS of 1.75, beating the consensus by 0.48. Effective cost management strategies drove this strong performance. A focus on high-margin business segments also contributed, helping offset a slight year-over-year revenue decline of 1.60%.
  • In Q1 2024, Citigroup's revenue surged to $43.82 billion, driving gross profit to $21.10 billion. This turned operating income positive at $4.54 billion, reflecting the company's strong market presence and improved efficiency.
  • For the rest of the 2024 fiscal year, Citigroup stock will likely experience varied performance. With a current value of $50 per share, Citigroup (C) has a projected average target price of $63.09, reaching as high as $86 and as low as $43.

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