Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) announced its quarterly earnings results on Friday. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02, Zacks reports. The firm had revenue of $33.20 billion during the quarter, compared to the consensus estimate of $32.99 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.75% and a net margin of 24.67%.

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of IDCBY stock opened at $20.38 on Friday. The stock’s 50-day moving average is $19.27 and its two-hundred day moving average is $17.79. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.86. Industrial & Commercial Bank of China Ltd. has a 1 year low of $15.05 and a 1 year high of $20.77. The firm has a market cap of $363.18 billion, a price-to-earnings ratio of 7.08 and a beta of 0.09.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Industrial & Commercial Bank of China Ltd. to a “hold” rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Limited (OTCMKTS: IDCBY), commonly known as ICBC, is a China-based commercial bank headquartered in Beijing. Established in 1984, the bank provides financial services to corporations, government entities, financial institutions, small businesses and individual customers.

ICBC’s business includes corporate and personal deposits and lending, payment and settlement services, bank cards, trade finance, foreign-exchange services and wealth management.