HDFC Bank Limited (NYSE:HDB) at last check was buoying at $61.26 on Thursday, September 22, with a fall of -4.03% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $63.84 and 5Y monthly beta was reading 0.86 with its price kept floating in the range of $63.61 and $65.22 on the day. Company’s P/E ratio for the trailing 12 months is 24.49. Considering stock’s 52-week price range provides that HDB hit a high price of $78.43 and saw its price falling to a low level of $50.61 during that period. Over a period of past 1-month, stock came adding 2.75% in its value.
With its current market valuation of $104.80 billion. HDB Stock’s Forward Dividend of 0.58 and its yield of 0.91% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $0.66 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $2.6 for 2022 with estimates of that growing to $2.97 in next year. These estimates are suggesting current year growth of 11.60% for EPS and 14.20% growth next year.
In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $12.83 billion in 2022, which will be -1.50% less from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review HDB stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 50% Buy. Long term indicators are suggesting an average of 50% Buy for it.
According to ratings assigned by 37 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 4 of them are recommending HDFC Bank Limited (HDB) as a Hold, while 31 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 2, whereas 0 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.
Digging deeper we become aware of the PEG ratio of the HDB stock which is currently positioned at 1.13. It further provides that stock’s current price level is -3.75% away from its 20-day simple moving average and is -1.80% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 41.18 while volatility remained at 2.27% over the past week which changes to 2.13% when measuring it over the past month. Beta is valued at 0.78, while measure of average true range or ATR is currently at 1.48.
In comparing HDFC Bank Limited (HDB)’s stock with other industry players reveals that stock’s latest price change of -4.03% and that of -12.01% over the past 12 months is in competing position with that of ICICI Bank Limited (IBN) which saw its stock price fall by -1.29% in the recent trading and went through an increase of 17.32% in past 12-month trading. HDFC Bank Limited has a P/E ratio of 24.49 against that of ICICI Bank Limited’s 23.00. On the other hand, the S&P 500 Index is down -0.87% in the early deals today while the Dow Jones Industrial was dealinglower at -0.39%.
Having a second look at HDFC Bank Limited (NYSE:HDB) provides that stock’s average daily trading volume for 3 months was 1.40 million, while it jumped to 1.75 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 1.85 billion.
The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 3.58 million which implies a short ratio of 2.08. This shows up a 0.19% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 2.88 million in the previous month. Subtraction of -1.89% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.