ICICI Bank Limited (NYSE:IBN) saw an upside of 0.93% to close Monday at $23.77 after adding $0.22 on the day. The 5-day average trading volume is 4,217,580 shares of the company’s common stock. It has gained $24.55 in the past week and touched a new high 1 time within the past 5 days. An average of 3,863,005 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,780,972.
IBN’s 1-month performance is 2.94% or $0.68 on its low of $22.92 reached on 07/10/23. The company’s shares have touched a 52-week low of $19.34 and high of $24.80, with the stock’s rally to the 52-week high happening on 07/26/23. YTD, IBN has achieved 8.59% or $1.88 and has reached a new high 19 times. However, the current price is down -4.15% from the 52-week high price.
Valuation Metrics
IBN stock has a beta of 0.90. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.16 while the price-to-book (PB) in the most recent quarter is 3.04.
As well, the company’s long term debt to equity for the quarter ending December 30 was 0.81, while the total debt to equity was 0.81. The firm’s gross profit as reported stood at $8.82 billion against revenue of $15.13 billion.
Earnings Surprise
For the quarterly period ending December 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected IBN to announce $0.28 per share in earnings in its latest quarter, but it posted $0.3, representing a 7.10% surprise.
Let’s look briefly at ICICI Bank Limited (IBN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 44.98% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.71%.
The stock’s 5-day moving average is $23.88, reflecting a -3.26% or -$0.80 change from its current price. IBN is currently trading +3.53% above its 20-day SMA, +16.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +4.76% and SMA200 by+8.59%.
Stochastic %K and %D was 14.73% and 27.33% and the average true range (ATR) pointed at 0.32. The RSI (14) points at 49.54%, while the 14-day stochastic is at 25.36% with the period’s ATR at 0.31. The stock’s 9-day MACD Oscillator is pointing at -0.51 and -0.60 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ICICI Bank Limited (NYSE: IBN), Bernstein upgraded it to an Outperform rating. They previously had a Mkt perform rating on the stock. Analysts offering their rating for IBN stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate IBN as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 37 have offered a “buy” rating.
What is IBN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $24.81 and a high of $32.99, with their median price target at $28.84. Looking at these predictions, the average price target given by analysts is for ICICI Bank Limited (IBN) stock is $28.85.
