ICICI Bank Limited (NYSE:IBN) traded at $10.17 at last check on Tuesday, Sep 15, making an upward move of 2.11% on its previous day’s price.
Looking at the stock we see that its previous close was $9.96 and the beta (5Y monthly) reads 1.19 with the day’s price range being $10.10 – 10.23. The company has a 12-month trailing PE ratio of 18.66. In terms of its 52-week price range, IBN has a high of $15.42 and a low of $6.86. The company’s stock has gained about 4.2% over that past 30 days.
ICICI has a market cap of $35.12 Billion and is expected to release its quarterly earnings report in Aug. With its Forward Dividend at 0.03 and a yield of 0.28%, the company’s investors could be anxious for the IBN stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.17, with the EPS growth for the year raised at $0.49 for 2020 and $0.69 for next year. These figures represent 0.2% and at 0.41% growth in EPS for the two years respectively.
There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the IBN stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of Hold.
Based on estimates by 46 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, none have rated the ICICI Bank Limited (IBN) stock as a Hold, while 42 rate it as a Buy. 4 analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the IBN stock currently stands at 0, and the current price level is -2.04% off its SMA20 and 1.64% from its 50-day simple moving average. The RSI (14) is pointing at 49.63 while the volatility over the past week is 1.78% and jumps to 2.04% over the past one month. The beta value is 1.19, while the average true range (ATR) is currently pointing at 0.28. The average price target for the stock over the next 12 months is $12.5, with the estimates having a low of $11.09 and a high of $14.28. These price ends are 9.05% and +40.41% off the current price level respectively, although investors could be excited at the prospect of a +21.93% if the IBN share price touches on the median price of $12.4.
Let’s briefly compare ICICI (IBN) stock to its peers. We find that today’s price change of +2.11% and -8.71% over the past 12 months for IBN competes that of Royal Bank of Canada (RY), which has seen its stock price rise 0.24% in the latest trading session and is -6.4% over the last one year. Another of its peers Hdfc Bank Ltd (HDB) has climbed 1.37% today, but is -4.69% down over the past year, while Toronto Dominion Bank (TD) is also up 2.11% yet its price remains in the red at -8.71% over the same period. Royal has a P/E ratio of 12.62 compared to ICICI’s 18.66 and Hdfc’s 95.63. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.52% and 0.01%, respectively, in early deals.
Coming back to ICICI Bank Limited (NYSE:IBN), we note that the average 3-month trading volume was 7.46 Million, while that of the preceding 10-day period stands at 7.19 Million. Current shares outstanding are 3.45 Billion.
According to data from Thomson Reuters, insiders hold 0.01% of the company’s shares while institutions hold 19.9%. The data shows that short shares as of August 30, 2020, stood at 17.79 Million at a short ratio of 2.9. This represents a 0.78% Short interest in Shares outstanding on August 30, 2020. Shares short rose in August from the previous month at 14.93 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -32.6% down in year-to-date price movement.