Is ICICI Bank Ltd. ADR (NYSE: IBN) A Suitable Stock For New Investors Today?

ICICI Bank Ltd. ADR (NYSE:IBN) shares, rose in value on Thursday, April 04, with the stock price up by 0.95% to the previous day’s close as strong demand from buyers drove the stock to $25.92.

Actively observing the price movement in the recent trading, the stock is buoying the session at $25.68. The value of beta (5-year monthly) is 0.81 whereas the PE ratio is 18.00 over 12-month period. Referring to stock’s 52-week performance, its high was $26.66, and the low was $21.22. On the whole, IBN has fluctuated by -1.31% over the past month.

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The company’s Forward Dividend Ratio is 0.19, with its dividend yield at 0.75%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.33, which is expected to increase to $0.35 for fiscal year $1.36 and then to about $1.43 by fiscal year 2025. Data indicates that the EPS growth is expected to be 14.30% in 2025, while the next year’s EPS growth is forecast to be 5.10%.

Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $11.68 billion, representing a decrease of -30.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IBN’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0.85, with the price of IBN currently trading nearly -0.34% and 2.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.52, while the 7-day volatility ratio is showing 1.20% which for the 30-day chart, stands at 0.95%. Furthermore, ICICI Bank Ltd. ADR (IBN)’s beta value is 1.03, and its average true range (ATR) is 0.31.

A comparison of ICICI Bank Ltd. ADR (IBN) with its peers suggests the former has fared considerably weaker in the market. IBN showed an intraday change of 0.95% in today’s session so far, and over the past year, it grew by 19.86%%.

Data on historical trading for ICICI Bank Ltd. ADR (NYSE:IBN) indicates that the trading volumes over the past 10 days have averaged 5.12 million and over the past 3 months, they’ve averaged 6.27 million. According to company’s latest data on outstanding shares, there are 3.51 billion shares outstanding.

Nearly 0.21% of ICICI Bank Ltd. ADR’s shares belong to company insiders and institutional investors own 18.72% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 25.64 million shares as on Mar 15, 2024, resulting in a short ratio of 4.58. According to the data, the short interest in ICICI Bank Ltd. ADR (IBN) stood at 0.73% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 25.91 million. The stock has risen by 8.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IBN stock heading into the next quarter.