Zacks: Analysts Expect ICICI Bank Ltd (NYSE:IBN) Will Announce Earnings of $0.23 Per Share

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Wall Street brokerages expect that ICICI Bank Ltd (NYSE:IBN) will post earnings of $0.23 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for ICICI Bank’s earnings. ICICI Bank reported earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 228.6%. The company is scheduled to issue its next quarterly earnings results on Wednesday, January 29th.

According to Zacks, analysts expect that ICICI Bank will report full-year earnings of $0.52 per share for the current fiscal year, with EPS estimates ranging from $0.49 to $0.58. For the next financial year, analysts anticipate that the company will report earnings of $0.88 per share, with EPS estimates ranging from $0.78 to $0.99. Zacks’ EPS calculations are an average based on a survey of research firms that cover ICICI Bank.

Separately, ValuEngine raised shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. ICICI Bank currently has an average rating of “Hold” and an average price target of $12.00.

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in shares of ICICI Bank by 637.2% in the second quarter. Advisory Services Network LLC now owns 2,757 shares of the bank’s stock worth $35,000 after purchasing an additional 2,383 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of ICICI Bank during the 2nd quarter worth about $35,000. Cutler Group LP acquired a new position in shares of ICICI Bank during the 3rd quarter worth about $48,000. Parallel Advisors LLC raised its holdings in shares of ICICI Bank by 299.7% in the 3rd quarter. Parallel Advisors LLC now owns 4,477 shares of the bank’s stock valued at $55,000 after purchasing an additional 3,357 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of ICICI Bank in the 2nd quarter valued at about $63,000. 20.27% of the stock is currently owned by institutional investors and hedge funds.

IBN traded up $0.78 during trading on Wednesday, reaching $14.77. The company had a trading volume of 7,099,656 shares, compared to its average volume of 7,010,590. The business’s fifty day moving average price is $13.27 and its 200 day moving average price is $12.18. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $47.02 billion, a P/E ratio of 98.47 and a beta of 0.80. ICICI Bank has a 12 month low of $9.20 and a 12 month high of $14.78.

About ICICI Bank

ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.

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Earnings History and Estimates for ICICI Bank (NYSE:IBN)

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