Citigroup's shares have now returned 9% year-to-date, following a 44% decline during 2011.
The shares are trading for relatively low multiples of 0.6 times their reported June 30 tangible book value of $51.81, and for six times the consensus 2013 earnings estimate of $4.54, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is $4.09.
Sterne Agee analyst Todd Hagerman rates Citigroup a "Buy," and said on July 16 after the company reported its second-quarter earnings that "although C's core operating performance will likely slow in the coming quarters, increasing capital flexibility, positive operating leverage, and a depressed valuation continue to offer a favorable risk/reward at current levels."
Hagerman's price target for Citi's shares is $33, and the analyst estimates the company will earn $3.92 a share for all of 2012, followed by 2013 EPS of $4.30.
Interested in more on Citigroup? See TheStreet Ratings' report card for this stock.
Email. Follow @PhilipvanDoorn
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV