Icici Bank Ltd (NYSE:IBN) shares traded on -1.44% below secure line and closed at $8.2. The stock exchanged hands 5.42 Million shares versus average trading capacity of 7.16 Million shares. It has a market cap of $27.7 Billion.
Investors as well as the sell-side will be paying close attention to how the actual numbers compare with the estimates. Earnings surprises can have a huge impact on a company’s stock price. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock’s price, but also to a gradual increase over time. Hence, it’s not surprising that some companies are known for routinely beating earning projections. A negative earnings surprise will usually result in a decline in share price.
A large surprise factor in either direction typically can lead to a significant swing in the stock price in the hours and days after the report. Previously Icici Bank Ltd (NYSE:IBN) reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $-0.03 with surprise factor of -33.3%.
Taking a broader look at the analyst consensus, according to 1 analysts Icici Bank Ltd (NYSE:IBN)’s price will reach at $13.5 during 52 weeks. Its minimum price target estimates has been figured out at $13.5 while the maximum price target forecast is established at $13.5.
On the other hand Icici Bank Ltd (NYSE:IBN) has Relative Strength Index (RSI 14) of 35.23 along with Average True Range (ATR 14) of 0.22. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock’s price movement. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days) as suggested by J Welles Wilder. In terms of market analysis and trading signals, RSI moving above the horizontal 30 reference level is viewed as a bullish indicator, while the RSI moving below the horizontal 70 reference level is seen to be a bearish indicator. The level of 50 represents neutral market momentum and corresponds with the center line in other oscillators such as MACD (Moving Average Convergence/Divergence). The average true range (ATR) is a measure of volatility introduced by Welles Wilder.
Consequently Icici Bank Ltd (NYSE:IBN)’s weekly and monthly volatility is 2.01%, 1.71% respectively.