Research Analysts Offer Predictions for ICICI Bank Ltd’s Q2 2020 Earnings (NYSE:IBN)

ICICI Bank Ltd (NYSE:IBN) – Stock analysts at Jefferies Financial Group issued their Q2 2020 earnings estimates for shares of ICICI Bank in a research note issued on Monday, October 14th. Jefferies Financial Group analyst N. Karfa expects that the bank will post earnings of $0.02 per share for the quarter. Jefferies Financial Group also issued estimates for ICICI Bank’s FY2021 earnings at $0.97 EPS.

Separately, ValuEngine lowered ICICI Bank from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. ICICI Bank presently has a consensus rating of “Hold” and a consensus target price of $12.00.

NYSE:IBN opened at $12.05 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock’s 50 day moving average price is $11.58 and its two-hundred day moving average price is $11.69. The firm has a market capitalization of $38.16 billion, a price-to-earnings ratio of 80.33 and a beta of 0.80. ICICI Bank has a 12-month low of $8.26 and a 12-month high of $12.77.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). ICICI Bank had a net margin of 6.69% and a return on equity of 4.40%. The company had revenue of $1.62 billion for the quarter.

Large investors have recently added to or reduced their stakes in the business. Exane Derivatives raised its stake in ICICI Bank by 89.3% in the second quarter. Exane Derivatives now owns 2,396 shares of the bank’s stock valued at $30,000 after buying an additional 1,130 shares during the period. Advisory Services Network LLC increased its stake in shares of ICICI Bank by 637.2% during 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 during the period. Mizuho Securities Co. Ltd. bought a new position in shares of ICICI Bank during the second quarter worth approximately $35,000. Steward Partners Investment Advisory LLC bought a new position in shares of ICICI Bank during the second quarter worth approximately $63,000. Finally, Lindbrook Capital LLC increased its stake in shares of ICICI Bank by 32.5% during the second quarter. Lindbrook Capital LLC now owns 7,249 shares of the bank’s stock worth $91,000 after purchasing an additional 1,780 shares during the period. Hedge funds and other institutional investors own 21.33% 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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