ICICI Bank Ltd. ADR (NYSE:IBN) finished Friday with an addition of $0.21 to close at $23.12, an upside of 0.92 percent. An average of 4,697,120 shares of common stock have been traded in the last five days. There was a gain of $0.29 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 3,914,470 shares traded, while the 50-day average volume stands at 3,891,744.
IBN stock has decreased by -0.99% in the last month. The company shares reached their 1-month lowest point of $22.61 on 09/27/23. With the stock rallying to its 52-week high on 07/26/23, shares of the company touched a low of $19.34 and a high of $24.80 in 52 weeks. It has reached a new high 19 times so far this year and achieved 5.62% or $1.23 in price. In spite of this, the price is down -6.77% from the 52-week high.
Valuation Metrics
ICICI Bank Ltd. ADR (IBN) has a trailing price-to-earnings (P/E) ratio of 18.04. The stock’s beta is 0.89. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.32, the price-to-book (PB) ratio at 2.94.
The company has a payout ratio of 14.15%. The company’s most recent quarterly dividend payment was $0.1120 a share, representing a down of -0.36% from $0.1124 last year. Its latest decrease dividend $0.0004 reported on Wednesday July 13 2022.
Financial Health
Further, the company has a long term debt to equity ratio of 0.81 and a total debt to equity ratio of 0.81 for the quarter ending June 29. Its gross profit as reported stood at $8.82 billion compared to revenue of $15.13 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ICICI Bank Ltd. ADR’s return on assets was 1.95%.
Earnings Surprise
The analyst consensus anticipated ICICI Bank Ltd. ADR’s latest quarter earnings to come in at $0.31 per share, but it turned out to be $0.18, a -41.90% surprise. At the end of the quarter ending June 29, ICICI Bank Ltd. ADR’s stock balance sheet showed total debt was $1.83 trillion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ICICI Bank Ltd. ADR (IBN) price momentum. RSI 9-day as of the close on 29 September was 46.45%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.78%.
As of today, IBN’s price is $22.91 +1.27% or $0.29 from its 5-day moving average. IBN is currently trading -0.22% lower than its 20-day SMA and +0.22% higher than its 100-day SMA. However, the stock’s current price level is -5.56% below the SMA50 and +1.36% above the SMA200.
The stochastic %K and %D were 22.44% and 16.47%, respectively, and the average true range (ATR) was 0.28. With the 14-day stochastic at 34.00% and the average true range at 0.29, the RSI (14) stands at 46.21%. The stock has reached -0.11 on the 9-day MACD Oscillator while the 14-day reading was at -0.43.
Analyst Ratings
Bernstein upgraded ICICI Bank Ltd. ADR (NYSE: IBN) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for ICICI Bank Ltd. ADR (IBN) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IBN, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 39 others rate it as a “buy”.
What is IBN’s price target for the next 12 months?
Analysts predict a range of price targets between $24.81 and $32.55, with a median target of $28.84. Taking a look at these predictions, the average price target given by analysts for ICICI Bank Ltd. ADR (IBN) stock is $28.80.
