Banco Bradesco S.A. (NYSE:BBD) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -2.77% to the previous day’s close as strong demand from buyers drove the stock to $3.16.
Actively observing the price movement in the last trading, the stock closed the session at $3.25, falling within a range of $3.14 and $3.24. The value of beta (5-year monthly) was 0.60 whereas the PE ratio was 9.58 over 12-month period. Referring to stock’s 52-week performance, its high was $4.10, and the low was $2.34. On the whole, BBD has fluctuated by 16.34% over the past month.
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The company’s Forward Dividend Ratio is 0.16, with its dividend yield at 4.94%. 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 $0.09, which is expected to increase to $0.1 for fiscal year $0.36 and then to about $0.5 by fiscal year 2024. Data indicates that the EPS growth is expected to be -7.70% in 2024, while the next year’s EPS growth is forecast to be 38.90%.
Analysts have estimated the company’s revenue for the quarter at $5.69 billion, with a low estimate of $5.47 billion and a high estimate of $5.9 billion. According to the average forecast, sales growth in current quarter could jump down -41.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $22.99 billion, representing a decrease of -34.80% 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% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 5.98, with the price of BBD currently trading nearly 4.63% and 13.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.76, while the 7-day volatility ratio is showing 2.64% which for the 30-day chart, stands at 3.31%. Furthermore, Banco Bradesco S.A. (BBD)’s average true range (ATR) is 0.10. The company’s stock has been forecasted to trade at an average price of $4.05 over the course of the next 52 weeks, with a low of $3.00 and a high of $5.10. Based on these price targets, the low is 5.06% off current price, whereas the price has to move -61.39% to reach the yearly target high. Additionally, analysts’ median price of $4.05 is likely to be welcomed by investors because it represents a decrease of -28.16% 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 -2.77% in last session, and over the past year, it shrunk by -19.21%%. In comparison, Mitsubishi UFJ Financial Group Inc. (MUFG) has moved higher at 0.30% on the day and was up 13.75% over the past 12 months. On the other hand, the price of Itau Unibanco Holding S.A. (ITUB) has risen 0.57% on the day. The stock, however, is off 5.30% from where it was a year ago. Additionally, there is a loss of -1.58% for Banco Bilbao Vizcaya Argentaria S.A. (BBVA) in last trading while the stock has seen an overall depriciation of 32.05%% over the past year. The PE ratio stands at 9.58 for Banco Bradesco S.A., compared to 10.00 for Mitsubishi UFJ Financial Group Inc., and 8.53 for Itau Unibanco Holding S.A. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Banco Bradesco S.A. (NYSE:BBD) indicates that the trading volumes over the past 10 days have averaged 30.09 million and over the past 3 months, they’ve averaged 28.52 million. According to company’s latest data on outstanding shares, there are 5.31 billion shares outstanding.
Banco Bradesco S.A.’s shares belong to company insiders and institutional investors own 15.86% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 69.61 million shares as on Apr 27, 2023, resulting in a short ratio of 2.86. According to the data, the short interest in Banco Bradesco S.A. (BBD) stood at 0.66% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 65.28 million. The stock has risen by 14.85% 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.