ICICI Bank Limited (NYSE:IBN) traded at $22.86 at close of the session on Tuesday, 11/22/22, made an upward move of 0.44% on its previous day’s price.
Looking at the stock we see that its previous close was $22.76 and the beta (5Y monthly) reads 0.95 with the day’s price range being $22.74 – $22.90. The company has a trailing 12-month PE ratio of 22.28. In terms of its 52-week price range, IBN has a high of $23.49 and a low of $16.36. The company’s stock has gained about 0.13% over that past 30 days.
ICICI Bank Limited has a market cap of $79.15 billion. With its Forward Dividend at 0.13 and a yield of 0.55%, 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 $0.25, with the EPS growth for the year raised at $1.06 for 2023 and $1.27 for next year. These figures represent 11.60% and 19.80% growth in EPS for the two years respectively.
According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $9.75 billion, or -37.60% down from figures reported last year.
There have been no 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 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 43 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the ICICI Bank Limited (IBN) stock as a Hold, while 42 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest 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 1.07, and the current price level is 1.22% off its SMA20 and 3.51% from its 50-day simple moving average. The RSI (14) is pointing at 55.93 while the volatility over the past week is 0.76% and jumps to 1.10% over the past one month. The beta value is 1.00, while the average true range (ATR) is currently pointing at 0.41.
Coming back to ICICI Bank Limited (NYSE:IBN), we note that the average 3-month trading volume was 8.32 million, while that of the preceding 10-day period stands at 11.01 million. Current shares outstanding are 3.48 billion.
The insiders hold 62.40% of the company’s shares while institutions hold 17.40%. The data shows that short shares as of Oct 13, 2022, stood at 25.77 million at a short ratio of 3.42. This represents a 0.74% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 25.67 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 15.51% up in year-to-date price movement.