Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Releases Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• ICBC reported quarterly EPS of $0.89, beating analyst estimates of $0.87 by $0.02. The bank posted an 8.75% return on equity and a 24.67% net margin.
• Shares rose 3.1% to $20.38 in mid-day trading, nearing the 52-week high of $20.77. The stock has a market capitalization of approximately $363.2 billion and a P/E ratio of 7.08.
• Analyst sentiment remains neutral: Zacks Research upgraded the shares to “Hold,” matching the current average rating of “Hold” from the sole covering analyst.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.02, Zacks reports. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.75% and a net margin of 24.67%.

Industrial & Commercial Bank of China Ltd. Stock Up 3.1%

Shares of IDCBY traded up $0.62 during mid-day trading on Friday, reaching $20.38. The company's stock had a trading volume of 84,133 shares, compared to its average volume of 51,772. Industrial & Commercial Bank of China Ltd. has a 1 year low of $15.05 and a 1 year high of $20.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.81. The company has a market cap of $363.18 billion, a price-to-earnings ratio of 7.08 and a beta of 0.09. The business has a fifty day moving average of $19.25 and a 200 day moving average of $17.77.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Industrial & Commercial Bank of China Ltd. to a "hold" rating in a report on Monday. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of "Hold".

About Industrial & Commercial Bank of China Ltd.

Industrial & Commercial Bank of China Limited OTCMKTS: IDCBY, commonly known as ICBC, is a China-based commercial bank headquartered in Beijing. Established in 1984, the bank provides financial services to corporations, government entities, financial institutions, small businesses and individual customers.

ICBC's business includes corporate and personal deposits and lending, payment and settlement services, bank cards, trade finance, foreign-exchange services and wealth management.

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