Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Raised to “Strong-Buy” at Zacks Research

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Up 0.1%

IDCBY stock opened at $17.42 on Monday. Industrial & Commercial Bank of China Ltd. has a 52 week low of $13.92 and a 52 week high of $18.75. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.75. The firm has a 50-day simple moving average of $17.36 and a 200-day simple moving average of $16.95. The stock has a market capitalization of $310.43 billion, a P/E ratio of 6.13 and a beta of 0.11.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). Industrial & Commercial Bank of China Ltd. had a net margin of 24.78% and a return on equity of 8.95%. The company had revenue of $32.05 billion during the quarter, compared to analysts’ expectations of $30.88 billion. Equities analysts forecast that Industrial & Commercial Bank of China Ltd. will post 3.15 earnings per share for the current fiscal year.

About Industrial & Commercial Bank of China Ltd.

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply‑chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.