Citigroup Inc (C)

C (NYSE:Banking) EQUITY
$39.86
neg -0.93
-2.28%
Today's Range: 39.55 - 41.44 | C Avg Daily Volume: 21,531,700
Last Update: 02/05/16 - 4:00 PM EST
Volume: 23,521,800
YTD Performance: -21.18%
Open: $41.13
Previous Close: $40.79
52 Week Range: $38.04 - $60.95
Oustanding Shares: 2,978,990,460
Market Cap: 120,232,054,966
6-Month Chart
TheStreet Ratings Grade for C
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 11 11 11 11
Moderate Buy 2 2 2 2
Hold 2 2 3 3
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 1.40 1.40 1.50 1.50
Latest Dividend: 0.05
Latest Dividend Yield: 0.50%
Dividend Ex-Date: 01/28/16
Price Earnings Ratio: 9.09
Price Earnings Comparisons:
C Sector Avg. S&P 500
9.09 0.00 29.52
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
-24.22% -15.72% -3.36%
GROWTH 12 Mo 3 Yr CAGR
Revenue -2.20 -0.07 -0.03
Net Income 130.80 1.20 0.30
EPS 124.30 1.29 0.31
Earnings for C:
EBITDA 0.00B
Revenue 88.54B
Average Earnings Estimates
Qtr (03/16) Qtr (06/16) FY (12/16) FY (12/17)
Average Estimate $1.41 $1.34 $5.30 $5.89
Number of Analysts 9 8 11 8
High Estimate $1.48 $1.43 $5.64 $6.25
Low Estimate $1.36 $1.31 $5.05 $5.65
Prior Year $1.52 $1.45 $5.35 $5.30
Growth Rate (Year over Year) -7.46% -7.33% -0.99% 11.12%
Chart Benchmark Timeframe
Average Frequency Indicator Chart
Scale Symbol Comparison Bollinger Bands

My Latest Trades Real Money Pro($)

I bought Potash Corp. (POT) on the opening and the expected dividend cut. I added to some bank longs, including Bank of America
A day full of sound and fury but perhaps signifying nothing. As I expected, the Fed acknowledged tightening financial conditions in the credit markets. Spreads have widened and the cost of debt and capital has risen. Here's my Fed analysis  and my strategy.  I viewed the strength in oil, in bank stocks and in credit (high yield) as providing hope and encouragement to me. I remain upbeat. I view the selloff today as an opportunity; I added to Hartford Financial Services Group (HIG), Comerica (CMA), Citigroup (C), Bank of America (BAC) and others. I had a damn love fest with RevShark today! Not surprisingly, stocks sold off and RevShark's correction prediction came to be. Here is what I wrote to Rev in Columnist Conversation: "I believe the obvious and consensus trade is to sell as the markets have ripped from Wednesday's lows -- of course there is a lot of space between then and now. But I am making what I believe to be the less obvious and contrary trade -- and I am buying. I believe markets will be relieved and that many are "offsides" for a further market advance. The beauty here is that you and I employ a level of transparently in our real-time trades, exercising our beliefs and show our analysis that yields our conclusions. Either outcome, I like -- and I hope is helpful to our subs." Where was the Divine Ms. M today when I needed her? On the other hand, I don't even know how to respond to Roger Arnold's over-the-top column on a "failing" Bank of America!!!!?!?!?!   But I shall remain respectful. From Columnist Conversations: "I intended to respond to your BAC column but it's been a hectic day and I didn't get the chance. I am diametrically opposed to your view, conclusion and analysis. The only way to deal with your speculative claims is to respond with facts. In the fullness of time I will show you my spreadsheets, which show that the bank's balance sheet is significantly improved and that it is growing its loan portfolio. The key to a bank's future growth is its capital and deposits, and Bank of America has plenty of both." Futures are up after the close. Up five handles -- Facebook (FB) effect? Futures recovered nearly half of the 30-point drop as of 4:40 p.m. ET. They bent but didn't break. SPDR S&P 500 ETF (SPY) closed down $2.07 -- it was down $3.10 at the worse level of the day. Technically, it looks like we had the third repudiation of SPY $191 and we have the support at the Wednesday gap at $185. But, so obvious! The U.S. dollar weakened. Gold was up another $4.40, continuing its multiday skein higher. Crude oil rose by 60 cents. The correlation between stocks and energy prices was abandoned today. In agricultural commodities, wheat was schmeissed (down eight cents) and corn was flat. Lumber was strong. Bonds reversed slightly to the upside after early morning weakness. Yields were flat to down two basis points across the maturities range. Municipals were well-bid and high yield was slightly lower in price and higher in yield. I am all in Blackstone/GSO Strategic Credit Fund (BGB) and the three-day winning streak stayed intact. I finally like the developing price action. Apple (AAPL) was a feature and I contributed my two bits!  Banks, though well off their highs, were up on the day in a broadly lower tape. Life insurance stocks continued their steady descent; we have nearly 25% gains on MetLife (MET) and Lincoln National (LNC) shorts now. Staples were strong, absolutely and relatively, with gains in Procter & Gamble (PG), 3M (MMM) and Kimberly-Clark (KMB). Oils were mixed despite stronger crude prices. Media continued to get crushed; my gains are building up in my short book in this sector, where I'm short Comcast (CMCSA) and Disney (DIS). Old tech was crippled today, led by Microsoft (MSFT) and Buffett fav IBM (IBM). Another new low for iShares China Large-Cap (FXI). A short and on the Best Ideas List.  Autos were stable. Ford (F) was down and General Motors (GM) was up.  I am sticking to these shorts, but trimmed considerably last week. (T)FANG was broadly lower, ex Facebook (see below). I have been warning about this acronym for two months and its underperformance is conspicuous."The Day of Reckoning Near for the (T)FANGs?" from two weeks ago. Amazon (AMZN) was down $18 ("A Long List of Reasons to Short Amazon") and Netflix (NFLX) is really breaking down. I recently wrote up both and shorted -- NFLX is on my Best Ideas List (10/12/2015 at $113).  NOSH was not tasty, with Nike (NKE) and Starbucks (SBUX) weighing it down. CRABBY was not so; it was up across the board, though timidly so. Miracle of miracles!  Potash (POT), Radian Group (RDN) and Twitter (TWTR) showed some life after death today. All higher, but modestly so. eBay (EBAY) missed and guided lower after the close. Shares down by 11%. Mo mo oh no! Biotech was a wreck, with broad losses in the primary and secondary names. iShares Nasdaq Biotechnology (IBB) was down by almost 4%, led by rollup Valeant Pharmaceuticals (VRX) going down and by Mallinckrodt (MNK). The same sellers in IBB are likely selling (T)FANG. Facebook's results were the "world's fair." Nothing NOT to dislike!
I thought today was a picture perfect day for the bullishly inclined. In the market without memory from day to day, the market forgot yesterday. Mr. Market had every reason to continue yesterday's schmeissing. It looked scary at the get go. If someone told you the Chinese stock market would be down 6% overnight, raise your hand if you would have expected the S&P 500 to advance by more than 20 handles? I don't see many hands. At their nadir, the S&P futures dropped by about 17 handles last evening. At 3:45 p.m. ET today, they had rallied by more than 40 handles. During the day there were several small dips; the market had every excuse to sell off, but buyers surfaced. There was an interesting and respectful debate between Rev and myself with regard to the enthusiasm corresponding to today's rally. I don't see it (I see fear and immobility), Rev sees optimism. (See my Columnist Conversation response and Rev's column.) It's an open debate that will not be resolved for a bit more time! Per the last bullet point, the investor sentiment numbers out midweek should be interesting. The U.S. dollar was modestly weaker today. Crude, the tail that wags the market's dog, climbed 90 cents. Natural gas was a penny higher. I covered my oil shorts in the session's early going. Gold was up $17. Treasuries were flattish, with most maturities showing a basis point change of one to two (up and down) in yield. Municipals were offered, but closed-end muni funds traded well.  They had been a source of funds recently). High-yield debt followed the crude market and was better bid. iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was up 70 cents and SPDR Barclays High Yield Bond ETF (JNK) was up 28 cents. Blackstone/GSO Strategic Credit Fund (BGB) regained what it lost yesterday. I have further added over the last three days. Wheat was three cents higher, corn a penny lower and soybeans down a nickel. Lumber was up 2%. FInancials rebounded from Monday's poor showing. The planned acquisition by Huntington Bancshares (HBAN) of FirstMerit (FMER) sparked the regional sector. I continue to add to Hartford Financial Services Group (HIG), Citigroup (C) and Bank of America (BAC). Staples, led by Kimberly-Clark (KMB) and Procter & Gamble (PG), were strong. Old tech was well-bid, though gains were muted. (T)FANG underperformed. But as I mentioned, I believe this is a positive signpost. We want to see leadership broaden and (arguably) excessive speculative valuations curbed.  NOSH was higher, led by O'Reilly Automotive (ORLY). CRABBY was strong across the board, with all six components higher. I had an active trading day; I covered a number of shorts, including Exxon Mobil (XOM), Schlumberger (SLB), iShares MSCI Germany (EWG), iShares MSCI France (EWQ) and iShares MSCI United Kingdom (EWU). I also bought several new positions, including Procter & Gamble
It's not because of the bank's changes, but the lack of them.
Earnings plummet for the credit-card giant, while Williams Companies leads the S&P pack.

Today's Trades Real Money Pro($)

I sold out of my long of the SPDR S&P 500 ETF (SPY) at nice prices. I added to my longs of Bank of Amer
The last became the first today.  I outlined my technical rationale for thinking that yesterday's "noon swoon" might be an important market bottom.  History is my guide, not anecdotes.  An abundance of uncreative, consensus and "groupstink" in the business media today. Too many that I won't even repeat some of the uninformed comments about yesterday's  short covering (that is almost always the start of a legit rally). Yesterday's dip of death and "noon swoon" was (based on my desk contacts) machine- and algo- driven. Gamma hedgers and risk parity strategies were especially active in the drop.    Ss (S&P) over Ns (Nasdaq) and Rs (Russell). The U.S. dollar was stronger, though well off of the day's best. Taxable government bonds were weaker -- the 10- and 30-year yields were four basis points higher. High yield, as seen with iShares iBoxx $ High Yield Corporate Bond ETF (HYG), up 66 cents, and SPDR Barclays High Yield Bond ETF (JNK), up 17 cents, reversed recent losses. Blackstone/GSO Strategic Credit Fund (BGB) was flat, and I added. Municipals were lower, slightly, and closed-end municipal funds recovered a good portion of yesterday's loss, which seemed to have been inspired by the group being a source of funds. Oil was up $1.40. Schlumberger (SLB) had a two-cent beat and announced a large buyback, boosting shares a bit, while Exxon Mobil (XOM) responded well to the rise in the commodities prices. I had covered most of my short yesterday. Natural gas was up four cents. Agricultural commodities were mixed. Wheat was up three cents, corn down three cents and soybean up a nickel. Lumber was up $1.60. Banks were weak, owing to oil-related credit concerns -- more on that next week. I am not as concerned as the market with regard to oil credits. I added to Citigroup (C) and Bank of America (BAC) today. Retail paid off. Macy's (M), Best Buy (BBY), Bed, Bath and Beyond (BBBY) and Wal-Mart (WMT) were all strong. M continued the technical breakout mentioned yesterday. Consumer staples were surprisingly strong given the dollar, though I suppose the selloff in the dollar buoyed late-day action. Old Tech was a tad better, with a dead-cat bounce from IBM (IBM) after Wednesday's schmeissing.  (T)FANG was mixed. Amazon (AMZN) was up $3.25 and Google, now Alphabet (GOOG), rose $8-plus, but the others were flat to down. Netflix (NFLX), the object of my disaffection this morning, fell more than $5. NOSH saw gains from three of the four stocks. Nike (NKE) was relatively strong. CRABBY was mixed, with fractional moves. Starbucks (SBUX), the stock that nearly everyone owns and likes, beat by a penny but the top line was weaker than expected. Chinese comps were disappointing (up 5%), overall comps were in line. Guidance was less than expected by consensus. I remain short but small after yesterday's cover when the shares were down $3. I expect a poor response to today's after-the-close release. The stock is down nearly $3 after closing up $2-plus in the regular session. American Express (AXP) beat but guidance is poor. Another Buffett holding with a leaking "moat" by virtue of losing its brand premium and value. Twitter (TWTR) continues its modestly better action. Potash (POT) was weak in a stronger sector, where both Monsanto (MON) and Culp (CFI) finished higher. Oaktree Capital Group (OAK) was flattish.  I spent the last year shorting
Did I mention that the market has no memory from day to day? I took today's late afternoon schmeissing as a panic low and adjusted my long exposure in my portfolio appropriately and opportunistically. All the ingredients I look for coalesced this morning and early afternoon -- shock, panic, fear and immobility on the part of many investors. But this statement is very subjective and must be taken with a grain of salt! As I noted, it's not time to be fearful when others are fearful and the S&P Index had dropped from 211+ to 182. At 182 the S&P was undervalued (according to my calculus) for the first time in more than six months. At the low today, the S&P was down by about 11% year to date, which is in line with my expectation of a low double-digit decline for 2016. My "Fair Market Value" calculation, shown recently, is 1860. We closed exactly at 1860!  That said, it won't be smooth sailing and it likely will be volatile. This European Central Bank story might have triggered some buying midday. Who knows? The U.S. dollar was stronger and that took down some of the consumer staple stocks. Bonds were stronger, though off the day's highs. The two-year U.S. note dropped by four basis points. Most other maturities fell by a similar amount in yield. Municipals were firm as well. Closed-end municipal bond funds were a noted casualty today despite a better municipal market. Are they a source of funds, as they have held up well? High yield was down on the day, but iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was about $1 off of its low and closed down a half a buck after being down $1.50-plus. Blackstone/GSO Strategic Credit Fund (BGB) closed down 14 cents but still off the lows of the day. I added, as non-energy junk bonds are being priced for a relatively deep recession. Crude oil fell by nearly $2 a barrel. Natural gas was a nickel higher. Gold rose by $12 an ounce. I have sold my SPDR Gold Shares (GLD). Silver was a few pennies to the good. Wheat fell by two cents, corn rose by two cents and soybeans declined by a dime. Lumber was schmeissed, with a nearly $9 loss, or 4% Oil stocks were standouts to the negative side; my shorts Exxon Mobil (XOM) and Schlumberger (SLB) were the world's fair with losses in the 3% range. These shorts have done famously in the last few months, and I might be overstaying my energy shorts, but I did take them down. Banks were underperformers -- the target of systemic risk concerns (oil, currency and more). I believe those concerns to be misplaced and I have added today to already large long positions. Life insurance stocks got obliterated, again. I covered some Lincoln National (LNC) and MetLife (MET) at good prices. Retail stocks were standouts to the upside after recent weakness. Macy's (M) breached its 50- day moving average to the upside and Best Buy (BBY) rose 2.5%. Biotech also took a turn to the upside, with a nearly 3% rise led by gains across the board. (T)FANG saw all five components decline, including a wild trading day in Netflix (NFLX). I covered Facebook (FB) for a nice profit at $91.30; it closed $3 a share higher than my cover. NOSH was mixed, with Nike (NKE) strongest of the acronym. CRABBY's six components were lower, but the percentage changes were not large. Twitter (TWTR) was the subject of takeover rumors and traded above $19, closing at around $17.40 for a 4% gain. Potash (POT) managed a small gain but faded toward the close. Comparable Monsanto (MON) was weak. It looked to me like a selling climax at a

My Latest Trades Real Money Pro($)

I've added to the following longs in premarket trading: Bank of America (BAC), Citigroup (C) and the SPDR S&P 500 ETF (SPY).
Management for both give cautious but favorable outlooks going forward.

Columnist Conversations

The sharp decline in the index in the first half of January and then the reflexive bounce in the last half of ...
Nice work on the diary today, Bret. Tough day but you killed it.
I've always said we should mostly avoid emerging markets and anything non-US-based in our investments. And you...
Tableau Software option trade opened yesterday on the PHLX stands out as a painful example of the perils of ra...

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