Brokerages expect HDFC Bank Limited (NYSE:HDB) to post earnings per share of $0.99 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for HDFC Bank’s earnings. HDFC Bank posted earnings per share of $0.79 during the same quarter last year, which suggests a positive year-over-year growth rate of 25.3%. The company is expected to announce its next earnings results on Friday, October 18th.
According to Zacks, analysts expect that HDFC Bank will report full-year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $3.92 to $4.16. For the next year, analysts anticipate that the firm will post earnings of $4.94 per share, with EPS estimates ranging from $4.81 to $5.08. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for HDFC Bank.
A number of equities research analysts recently commented on the stock. Nomura cut shares of HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 target price for the company. in a research report on Tuesday, June 11th. Zacks Investment Research cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Tuesday.
Several hedge funds and other institutional investors have recently bought and sold shares of HDB. Comerica Securities Inc. grew its holdings in shares of HDFC Bank by 26.7% in the fourth quarter. Comerica Securities Inc. now owns 8,048 shares of the bank’s stock valued at $834,000 after purchasing an additional 1,697 shares in the last quarter. DNB Asset Management AS grew its holdings in HDFC Bank by 4.5% during the 1st quarter. DNB Asset Management AS now owns 13,861 shares of the bank’s stock worth $1,606,000 after acquiring an additional 600 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in HDFC Bank during the 1st quarter worth approximately $237,000. Daiwa SB Investments Ltd. grew its holdings in HDFC Bank by 30.0% during the 1st quarter. Daiwa SB Investments Ltd. now owns 1,300 shares of the bank’s stock worth $151,000 after acquiring an additional 300 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in HDFC Bank by 20.0% during the 1st quarter. Eqis Capital Management Inc. now owns 5,544 shares of the bank’s stock worth $643,000 after acquiring an additional 923 shares in the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.
NYSE:HDB traded up $0.76 during midday trading on Monday, reaching $110.50. 770,400 shares of the stock traded hands, compared to its average volume of 947,794. HDFC Bank has a 12-month low of $85.43 and a 12-month high of $131.78. The business has a 50-day moving average of $120.27 and a two-hundred day moving average of $115.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $93.97 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.43.
About HDFC Bank
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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