Analysts Anticipate ICICI Bank Ltd (NYSE:IBN) to Post $0.06 Earnings Per Share

Wall Street analysts expect that ICICI Bank Ltd (NYSE:IBN) will report $0.06 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for ICICI Bank’s earnings. ICICI Bank reported earnings of $0.08 per share in the same quarter last year, which would indicate a negative year over year growth rate of 25%. The firm is scheduled to issue its next earnings results on Monday, August 3rd.

On average, analysts expect that ICICI Bank will report full-year earnings of $0.49 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.66. For the next fiscal year, analysts expect that the business will report earnings of $0.71 per share, with EPS estimates ranging from $0.59 to $0.84. Zacks’ EPS averages are an average based on a survey of analysts that follow ICICI Bank.

ICICI Bank (NYSE:IBN) last issued its earnings results on Saturday, May 9th. The bank reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.10). ICICI Bank had a net margin of 8.69% and a return on equity of 6.27%. The company had revenue of $1.82 billion during the quarter.

A number of research analysts have issued reports on IBN shares. Zacks Investment Research cut shares of ICICI Bank from a “hold” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Friday, June 5th. Goldman Sachs Group lowered shares of ICICI Bank from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, June 3rd.

ICICI Bank stock traded up $0.31 during mid-day trading on Friday, reaching $9.60. The company had a trading volume of 6,416,500 shares, compared to its average volume of 9,138,512. ICICI Bank has a 1 year low of $6.86 and a 1 year high of $15.42. The company has a market capitalization of $30.07 billion, a P/E ratio of 28.27 and a beta of 1.20. The stock’s 50-day simple moving average is $8.86 and its 200-day simple moving average is $11.52.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in ICICI Bank by 372.0% during the first quarter. Morgan Stanley now owns 16,839,646 shares of the bank’s stock worth $143,137,000 after acquiring an additional 13,271,805 shares during the last quarter. Charles Lim Capital Ltd boosted its position in ICICI Bank by 2,583.9% during the first quarter. Charles Lim Capital Ltd now owns 7,047,221 shares of the bank’s stock worth $59,901,000 after acquiring an additional 6,784,645 shares during the last quarter. Capital International Investors boosted its position in ICICI Bank by 31.4% during the first quarter. Capital International Investors now owns 28,040,070 shares of the bank’s stock worth $238,339,000 after acquiring an additional 6,705,384 shares during the last quarter. Somerset Capital Management LLP boosted its position in ICICI Bank by 55.9% during the first quarter. Somerset Capital Management LLP now owns 10,440,606 shares of the bank’s stock worth $88,737,000 after acquiring an additional 3,744,200 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in ICICI Bank by 159.1% during the first quarter. JPMorgan Chase & Co. now owns 5,434,899 shares of the bank’s stock worth $46,197,000 after acquiring an additional 3,336,956 shares during the last quarter. Institutional investors and hedge funds own 17.97% of the company’s stock.

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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