Don’t Be Fooled By Gain in ICICI Bank Limited [IBN] Stock

ICICI Bank Limited [IBN] shares are down more than -6.36% this year and recently increased 0.05% or $0.67 to settle at $13.83. IBN has a short ratio of 2.37. This implies that the market is currently less bullish on the outlook for IBN.

On 31, July 2020, ICICI Bank Limited Files Annual Report in Form 20-F. According to news published on Yahoo Finance, ICICI Bank Limited (NYSE: IBN) filed its annual report in Form 20-F for the year ended March 31, 2020 (FY2020) on July 31, 2020, as required by United States securities regulations. The Form 20-F annual report includes the Bank’s consolidated financial statements under Indian GAAP and a reconciliation of consolidated profit after tax and net worth under Indian GAAP to net income and stockholders’ equity under U.S. GAAP, approved by the Audit Committee of the Board.

Analyst Birdseye View:

The most recent analyst activity for ICICI Bank Limited [NYSE:IBN] stock was on January 16, 2018, when it was Initiated with an Overweight rating from Morgan Stanley. On October 30, 2017, Jefferies Upgrade a Buy rating. On March 20, 2017, Macquarie Upgrade an Outperform rating. On March 06, 2017, Jefferies Downgrade a Hold rating. On October 24, 2016, Goldman Upgrade a Buy rating. On June 16, 2016, JP Morgan Downgrade a Neutral rating. Goldman elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $6.86 and a peak of $15.42. Right now, according to Wall Street analyst the average 12-month amount target is $14.67. At the most recent market close, shares of ICICI Bank Limited [NYSE:IBN] were valued at $13.83. According to the average price forecast, investors can expect a potential return of -13.21%.

FUNDAMENTAL ANALYSIS

ICICI Bank Limited [NYSE:IBN] most recently reported quarterly sales of 222.26 billion, which represented growth of 5.30%. This publicly-traded organization’s revenue is $15,126,685 per employee, while its income is $963,190 per employee. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 0.73, 8.07, 4.72 and 1.99 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 80.09 and the whole liability to whole assets at 35.84. It shows enduring liability to the whole principal at 79.04 and enduring liability to assets at 0.35 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 13.72 points at 1st support level, the second support level is making up to 13.62. But as of 1st resistance point, this stock is sitting at 13.89 and at 13.96 for 2nd resistance point.

ICICI Bank Limited [IBN] reported its earnings at $0.19 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $0.17/share signifying the difference of 0.02 and 11.80% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were $0.13 calling estimates for $0.06/share with the difference of 0.07 depicting the surprise of 116.70%.

Now if looking for a valuation of this stock’s amount to sales ratio it’s 1.42, it’s amount to book ratio is 1.71 and showing 24.35 of P/E (TTM) ratio.