Banco Bradesco S.A. (NYSE:BBD) shares, rose in value on Friday, August 05, with the stock price up by 2.63% to the previous day’s close as strong demand from buyers drove the stock to $3.51.
Actively observing the price movement in the recent trading, the stock is buoying the session at $3.42, falling within a range of $3.39 and $3.50. The value of beta (5-year monthly) is 1.18 whereas the PE ratio is 3.65 over 12-month period. Referring to stock’s 52-week performance, its high was $4.31, and the low was $2.93. On the whole, BBD has fluctuated by 10.08% over the past month.
The company’s Forward Dividend Ratio is 0.12, with its dividend yield at 3.42%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.12, which is expected to increase to $0.13 for fiscal year $0.51 and then to about $0.56 by fiscal year 2023. Data indicates that the EPS growth is expected to be 10.90% in 2023, while the next year’s EPS growth is forecast to be 9.80%.
Analysts have estimated the company’s revenue for the quarter at $5.37 billion, with a low estimate of $5.12 billion and a high estimate of $5.63 billion. According to the average forecast, sales growth in current quarter could jump up 15.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $23.02 billion, representing an increase of 3.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BBD’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 75% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 2.28, with the price of BBD currently trading nearly 10.39% and 0.49% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.47, while the 7-day volatility ratio is showing 2.99% which for the 30-day chart, stands at 3.11%. Furthermore, Banco Bradesco S.A. (BBD)’s beta value is 0.98, and its average true range (ATR) is 0.11. The company’s stock has been forecasted to trade at an average price of $4.28 over the course of the next 52 weeks, with a low of $2.35 and a high of $5.50. Based on these price targets, the low is 33.05% off current price, whereas the price has to move -56.7% to reach the yearly target high. Additionally, analysts’ median price of $5.00 is likely to be welcomed by investors because it represents a decrease of -42.45% from the current levels.
A comparison of Banco Bradesco S.A. (BBD) with its peers suggests the former has fared considerably weaker in the market. BBD showed an intraday change of 2.63% in today’s session so far, and over the past year, it shrunk by -15.60%%. In comparison, Mitsubishi UFJ Financial Group Inc. (MUFG) has moved higher at 0.10% today and is down -1.31% over the past 12 months. On the other hand, the price of Itau Unibanco Holding S.A. (ITUB) has risen 2.37% today. The stock, however, is off 0.65% from where it was a year ago. Additionally, there is a gain of 0.97% for Banco Bilbao Vizcaya Argentaria S.A. (BBVA) in recent trading while the stock has seen an overall depriciation of -30.12%% over the past year. The PE ratio stands at 3.65 for Banco Bradesco S.A., compared to 8.03 for Mitsubishi UFJ Financial Group Inc., and 8.55 for Itau Unibanco Holding S.A. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.27%. Meanwhile, the Dow Jones Industrial Slipped by -0.07%.
Data on historical trading for Banco Bradesco S.A. (NYSE:BBD) indicates that the trading volumes over the past 10 days have averaged 26.44 million and over the past 3 months, they’ve averaged 34.70 million. According to company’s latest data on outstanding shares, there are 9.69 billion shares outstanding.
Nearly 35.30% of Banco Bradesco S.A.’s shares belong to company insiders and institutional investors own 17.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 31.92 million shares as on Jul 14, 2022, resulting in a short ratio of 0.88. According to the data, the short interest in Banco Bradesco S.A. (BBD) stood at 0.30% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 46.13 million. The stock has risen by 10.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BBD stock heading into the next quarter.