Are Analysts Buzzing Over ICICI Bank Limited (NYSE:IBN) Shares?

ICICI Bank Limited (NYSE:IBN) currently has an Average Broker Rating of 1.67. The ABR rank within the industry stands at 193. This number is based on the 3 sell-side firms polled by Zacks.  

Each brokerage research report carries with it some form of recommendation. The brokerage firms may use different lingo for their rating systems (like saying Outperform instead of Buy), but they can all be properly sorted into our 5 level classification system that is now the industry standard. Each of the 5 classifications has a value associated with it to help compute the ABR. 

As the name implies the ABR will show you the Average of Brokerage Recommendations on a given stock. The benefit is that you quickly get a snapshot of where Wall Street stands on a stock without having to read a mountain of research reports.

Broker recommendations are made by brokerage firms (for example, JP Morgan) and are not an outright recommendation to buy or sell a share, but instead give an indication of how the broker thinks the company will perform relative to its sector. Their recommendations are issued over a particular period of time. The recommendations provided in the Research Centre are shown on a 75 day rolling basis. Each brokerage firm has its own way of rating that may make it difficult to compare broker recommendations between the brokerage houses.

For example, at one brokerage “buy” may be the strongest recommendation, while at another “buy” could be second to a “strong buy” rating. The second-highest ratings also have a number of different other names: “accumulate”, “outperform”, “moderate buy” or “overweight”.

Analysts on a consensus basis are expecting that the stock will reach $12.85 within the year.

Many traders and investors opt to study technical analysis when approaching the stock market. Technical analysts study changes in stock price that occur over various amounts of time. Some analysts will study by the minute or hour. Others will choose to zoom out to days, weeks, months, or even longer. Studying price action over different time periods can help provide the investor with valuable information to help make the best possible investing decisions. Keeping an eye on the stock market, it can be seen that certain trends repeat over time. These trends or patterns might not be exact, but they can be noticeable. Spotting these patterns and watching for momentum shifts can be a highly useful tool for any trader or investor. Many chartists will focus on multiple indicators when doing technical analysis. Becoming familiar with indicators and learning to spot trends may take a lot of time and effort to achieve.   

Research analysts are predicting that ICICI Bank Limited (NYSE:IBN) will report earnings of $0.08 per share when the firm issues their next quarterly report. This is the consensus earnings per share number according to data from Zack’s Research.

ICICI Bank Limited (NYSE:IBN) closed the last session at $9.53 and sees an average of 7626314.5 shares trade hands in each session. The 52-week low of the stock stands at $7.72 while the current level stands at 59.15% of the 52-week High-Low range. Looking further out we can see that the stock has moved -4.8% over the past 12 weeks and -7.39% year to date.

Most recently ICICI Bank Limited (NYSE:IBN) posted quarterly earnings of $-0.01 which compared to the sell-side estimates of 0.08. The stock’s 12-month trailing earnings per share stands at $0.22. Shares have moved $-9.58 over the past month and more recently, $-4.12 over the past week heading into the earnings announcement. There are 1 analyst projections that were taken into consideration from respected brokerage firms.

Investors will most likely be looking ahead to the next round of company earnings reports. As the reports come in, all eyes will be on the companies that post wide margin earnings beats or misses. Many investors will be closely tracking which way analyst estimates are being adjusted right before earnings. This may provide some insight on how good or bad the numbers for the quarter are likely to be. Investors might want to take a look at their holdings after the earnings reports to make sure that nothing extremely odd is occurring after crunching the numbers.

2 analysts rate ICICI Bank Limited a Buy or Strong Buy, which is 66.67% of all the analyst ratings.

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