The stock of ICICI Bank Limited (NYSE:IBN) increased by $0.27 on Monday to $23.70, up 1.17 percent. The last five days have seen an average of 3,179,157 shares of common stock traded. 19 times new highs were reached in the current year, with a gain of $1.84. The average number of shares traded over the last 20 days was 3,858,944, while the average volume over the last 50 days totaled 3,853,654.
IBN stock dropped -2.81% since last month. On 08/15/23, the company’s shares reached a one-month low of $22.78. The stock touched a high of $24.80 on 07/26/23, after rallying from a low of $19.34 in 52 weeks. The price of IBN stock has risen by 8.29% or $1.84 this year, reaching a new high 19 times. Still, the stock price is down -4.42% from the 52-week high.
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Valuation Metrics
ICICI Bank Limited (IBN) has a trailing price-to-earnings (P/E) ratio of 18.68. Beta for the stock is 0.90. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.20, the price-to-book (PB) ratio of 3.02.
Company paid $0.1120 per share in dividends, a decrease of -0.36% from $0.1124 last year. A $0.0004 dividend decrease was reported on Wednesday July 13 2022.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.81, and the total debt to equity ratio is 0.81. ICICI Bank Limited’s operating margin stood at 52.30% for the same period. Based on annual data, it had gross profit of $8.82 billion and revenue of $15.13 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IBN’s return on assets (ROA) during the last 12 months has been 1.90%. There was a 13.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 17.80%.
Earnings Surprise
According to ICICI Bank Limited’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that ICICI Bank Limited’s quarterly earnings would be $0.18, but it ended up being $0.31, beating the consensus by -41.90%. At the end of ICICI Bank Limited’s most recent quarter ended June 29, its total debt was $1.83 trillion.
Technical Picture
Here’s a quick look at ICICI Bank Limited’s (IBN) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 60.06%, suggesting the stock is Neutral, with a 17.62% historical volatility rate.
The stochastic %K and %D were 72.28% and 62.32% respectively, while the average true range (ATR) was 0.29. Based on the 14-day stochastic reading of 94.06%, the RSI (14) reading is 55.72%. On the 9-day MACD Oscillator, the stock is at 0.30, and the 14-day reading is at 0.31.
Analyst Ratings
In its most recent analyst report, Bernstein raised its rating on ICICI Bank Limited (NYSE: IBN) to an Outperform. Prior to this, analysts firm rated the stock as a Mkt perform. Analysts have assigned ICICI Bank Limited (IBN) an Buy rating. IBN is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 38 others recommend it as a buy.
What is IBN’s price target for the next 12 months?
The current consensus forecast for the stock is between $24.81 and $32.99, with a median target price of $28.84. In analyzing these forecasts, the average price target given by analysts for ICICI Bank Limited (IBN) is $28.81.
