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

Zacks Research upgraded shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of IDCBY opened at $17.42 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50-day moving average of $17.36 and a 200-day moving average of $16.95. The company has a market cap of $310.43 billion, a PE ratio of 6.13 and a beta of 0.11. Industrial & Commercial Bank of China Ltd. has a one year low of $13.92 and a one year high of $18.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last issued its earnings results on Wednesday, April 29th. The company reported $0.69 EPS 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 firm had revenue of $32.05 billion during the quarter, compared to the consensus estimate of $30.88 billion. On average, equities research analysts predict that Industrial & Commercial Bank of China Ltd. will post 3.15 EPS for the current fiscal year.

Industrial & Commercial Bank of China Ltd. Company Profile

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.