Equities research analysts expect ICICI Bank Ltd (NYSE:IBN) to report $0.23 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for ICICI Bank’s earnings. ICICI Bank posted earnings of $0.07 per share during the same quarter last year, which would indicate a positive year over year growth rate of 228.6%. The firm is scheduled to issue its next earnings results on Wednesday, January 29th.
On average, analysts expect that ICICI Bank will report full year earnings of $0.52 per share for the current year, with EPS estimates ranging from $0.49 to $0.58. For the next financial year, analysts anticipate that the business will report earnings of $0.88 per share, with EPS estimates ranging from $0.78 to $0.99. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for ICICI Bank.
ICICI Bank (NYSE:IBN) last posted its quarterly earnings data on Saturday, October 26th. The bank reported $0.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.69 billion. ICICI Bank had a net margin of 6.04% and a return on equity of 4.21%.
Separately, ValuEngine raised ICICI Bank from a “strong sell” rating to a “sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.00.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of ICICI Bank by 193.9% during the second quarter. Invesco Ltd. now owns 88,854,057 shares of the bank’s stock valued at $1,118,673,000 after acquiring an additional 58,623,145 shares during the period. Morgan Stanley increased its holdings in shares of ICICI Bank by 28.0% in the 2nd quarter. Morgan Stanley now owns 10,354,904 shares of the bank’s stock worth $130,368,000 after acquiring an additional 2,265,399 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ICICI Bank by 1,744.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,746,777 shares of the bank’s stock valued at $110,122,000 after purchasing an additional 8,272,545 shares during the last quarter. State Street Corp lifted its position in ICICI Bank by 8.1% in the 3rd quarter. State Street Corp now owns 8,682,787 shares of the bank’s stock valued at $105,756,000 after purchasing an additional 647,343 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in ICICI Bank by 81.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,024,131 shares of the bank’s stock valued at $88,434,000 after purchasing an additional 3,163,539 shares during the period. Hedge funds and other institutional investors own 20.27% of the company’s stock.
Shares of IBN stock traded up $0.06 during trading hours on Wednesday, hitting $14.76. 5,489,169 shares of the company were exchanged, compared to its average volume of 7,013,770. The stock has a market capitalization of $47.43 billion, a price-to-earnings ratio of 98.40 and a beta of 0.80. ICICI Bank has a one year low of $9.20 and a one year high of $14.80. The business’s 50-day simple moving average is $13.44 and its two-hundred day simple moving average is $12.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.04 and a current ratio of 1.04.
About ICICI Bank
ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.
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