For this quarter, Wall Street analysts forecast ICICI Bank Limited (IBN) revenue in a range of $5.75 billion to $5.75 billion, which should be compared with $7.12 billion generated last year. EPS is seen in a range of $0.18 to $0.18, against the $0.62 reported a year ago.Revenue for the recent quarter stood at $50000, down -100% on last year and below the $90000 predicted by analysts.
IBN’s 50 day simple moving average (SMA 50) price is $10.14 and its 200-day simple moving average (SMA 200) price is $9.17. The company’s stock currently has a total float of 3.2B shares. Its weekly volatility is hovering around 1.16% and felt 1.21% volatility in price over a month. On the upside, the share price will test short term resistance at around $9.79. On a downside, the stock is likely to find some support, which begins at $9.62. The failure to get near-term support could push it to $9.55.
Wall Street’s most bullish ICICI Bank Limited (NYSE:IBN) analysts are predicting the share price to blow past $14.71 per share during the next 12 months. The current median share price forecast by them is $12.09, suggesting that the stock could increase 24.9% in that time frame. The average price target of $12.15 calls for a nearly 25.52% increase in the stock price.
It had seen a new analyst call from Morgan Stanley, which initiated the stock at Overweight on January 16. Analysts at Jefferies, shed their negative views on October 30 by lifting it fromHold to Buy. The stock won favor of Macquarie analysts who expressed their confidence in it using an upgrade from Neutral to Outperform on March 20.
When looking at valuations, ICICI Bank Limited (IBN) has a pricey P/E of 35.59x as compared to industry average of 19.58x. Moreover, it trades for 15.44 times the next 12 months of expected earnings.
ICICI Bank Limited (NYSE:IBN) shares went down -1.12% in Monday’s session, putting the price tag at $9.68 plus $32.04B in market capitalization. Earlier in the session, the stock traded between $9.66 and $9.83. Trading activity significantly weakened as the volume at ready counter decreased to 5,822,253 shares versus 7,242,645 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 7,018,872 shares. The stock is now 27.2% above against its bear-market low of $7.61 on July 16, 2018. It has retreated -11.88% since it’s 52-week high of $10.83 reached in January. Now the market price is down -3.39% on the year and down -5.93% YTD.