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Does ING Groep N.V. (NYSE: ING) Still Need To Convince Analysts?

ING Groep N.V. (NYSE:ING) traded at $13.89 at last check on Tuesday, January 24, made an upward move of 1.48% on its previous day’s price.

Looking at the stock we see that its previous close was $13.69 and the beta (5Y monthly) reads 1.89 with the day’s price range being $13.545 – $13.73. The company has a trailing 12-month PE ratio of 13.53. In terms of its 52-week price range, ING has a high of $15.56 and a low of $8.14. The company’s stock has gained about 12.95% over that past 30 days.

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ING Groep N.V. has a market cap of $50.06 billion. With its Forward Dividend at 0.94 and a yield of 6.84%, the company’s investors could be anxious for the ING stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.35, with the EPS growth for the year raised at $1.14 for 2022 and $1.37 for next year. These figures represent -22.40% and 20.20% growth in EPS for the two years respectively.

According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $17.81 billion, or -18.50% 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 ING 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 23 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 7 have rated the ING Groep N.V. (ING) stock as a Hold, while 15 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 Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the ING stock currently stands at 1.02, and the most recent price level today is 7.36% off its SMA20 and 13.33% from its 50-day simple moving average. The RSI (14) is pointing at 72.71 while the volatility over the past week is 1.51% and jumps to 1.28% over the past one month. The beta value is 1.59, while the average true range (ATR) is currently pointing at 0.24. The average price target for the stock over the next 12 months is $15.39, with the estimates having a low of $11.97 and a high of $18.41. These price ends are 13.82% and -32.54% off the today’s price level respectively, although investors could be excited at the prospect of a -9.79% if the ING share price touches on the median price of $15.25.

Let’s briefly compare ING Groep N.V. (ING) stock to its peers. We find that today’s price change of 1.48% and -4.91% over the past 12 months for ING competes that of KB Financial Group Inc. (KB), which has seen its stock price fall -0.02% in the latest trading session and is -5.44% over the last one year. Another of its peers Credicorp Ltd. (BAP) has dropped -0.87% today, and was -0.09% down over the past year, while JPMorgan Chase & Co. (JPM) is also up 1.11% yet, while its price remains in the red at -7.04% over the same period. ING Groep N.V. has a P/E ratio of 13.53 compared to KB Financial Group Inc.’s 5.09 and Credicorp Ltd.’s 9.37. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -0.40% and -0.23%, respectively, in early deals.

Coming back to ING Groep N.V. (NYSE:ING), we note that the average 3-month trading volume was 4.28 million, while that of the preceding 10-day period stands at 3.42 million. Current shares outstanding are 3.73 billion.

The insiders hold 1.00% of the company’s shares while institutions hold 4.20%. The data shows that short shares as of Oct 13, 2022, stood at 1.28 million at a short ratio of 0.26. This represents a 0.03% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 3.55 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 12.49% up in year-to-date price movement.

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