The trading price of HDFC Bank Limited (NYSE:HDB) floating higher at last check on Wednesday, October 13, closing at $74.27, 0.81% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $72.57 and $74.10. The company’s P/E ratio in the trailing 12-month period was 190.12, while its 5Y monthly beta was 0.89. In examining the 52-week price action we see that the stock hit a 52-week high of $84.70 and a 52-week low of $54.35. Over the past month, the stock has lost -2.03% in value.
HDFC Bank Limited, whose market valuation is $134.62 billion at the time of this writing. The dividend yield on the company stock is 0.35%, while its Forward Dividend ratio is 0.26. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.63 per share this quarter, however they have predicted annual earnings per share of $2.76 for 2022 and $3.34 for 2023. It means analysts are expecting annual earnings per share growth of 18.50% this year and 21.00% next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $14.07 billion. The company’s revenue is forecast to grow by 8.10% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of HDFC Bank Limited No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest HDB has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned HDB a recommendation rating is 40. Out of them, 3 rate it a Hold, while 31 recommend Buy, whereas 5 assign an Overweight rating. 0 analyst(s) have tagged HDFC Bank Limited (HDB) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 7.99, which symbolizes a positive outlook. A quick review shows that HDB’s price is currently 1.29% off the SMA20 and -0.96% off the SMA50. The RSI metric on the 14-day chart is currently showing 52.06, and weekly volatility stands at 1.54%. When measured over the past 30 days, the indicator reaches 1.73%. HDFC Bank Limited (NYSE:HDB)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 1.36. With analysts defining $58.25-$80.22 as the low and high price targets, we arrive at a consensus price target of $72.06 for the trailing 12-month period. The current price is about 21.57% off the estimated low and -8.01% off the forecast high, based on this estimate. Investors will be thrilled if HDB’s share price rises to $72.40, which is the median consensus price. At that level, HDB’s share price would be 2.52% above current price.
To see how HDFC Bank Limited stock has been performing today in comparison to its peers in the industry, here are the numbers: HDB stock’s performance was 0.81% at last check in today’s session, and 32.14% in the past year, while ICICI Bank Limited (IBN) has been trading -0.13% in recent session and positioned 70.86% higher than it was a year ago. HDFC Bank Limited has a P/E ratio of 190.12. Also during today’s trading, the S&P 500 Index has plunged -0.26%, while the Dow Jones Industrial also saw a negative session, down -0.53% today.
An evaluation of the daily trading volume of HDFC Bank Limited (NYSE:HDB) indicates that the 3-month average is 1.42 million. However, this figure has increased over the past 10 days to an average of 1.46 million.
Currently, records show that 1.83 billion of the company’s shares remain outstanding. The institutions hold 18.51%. The stats also highlight that short interest as of Jul 29, 2021, stood at 3.15 million shares, resulting in a short ratio of 2.42 at that time. From this, we can conclude that short interest is 0.17% of the company’s total outstanding shares. It is noteworthy that short shares in July were down slightly from the previous month’s figure, which was 5.37 million. However, since the stock’s price has seen 1.95% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.