Citi Warns Markets Revenue May Fall 20% in Q4; Stock Drops 5%
C sits 29% above its 52-week low of $95.
Summary
Citigroup's Q3 results beat on EPS ($2.85 vs consensus) but the stock fell over 5% after management warned Markets revenue could drop about 20% sequentially in Q4, citing normal year-end trading patterns. The bank added $207 million to consumer reserves and saw flat U.S. card performance, while investment banking revenue rose 9% on a 77% surge in equity capital markets. Jefferies downgraded the stock and cut its price target to $155, while RBC maintained Outperform with a $135 target. Separately, Citi sold 49% of Banamex to investors including Blackstone and General Atlantic, retaining 51% ahead of a planned 2027 IPO. This follows the Q3 earnings release on October 13 and adds the Q4 Markets revenue warning and analyst reactions to the original disclosure.
At the time of this announcement, C was trading at $122.50 on NYSE in the Finance sector, with a market capitalization of approximately $205.1B. The 52-week trading range was $95.00 to $147.96. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.