Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Posts Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• EPS miss: Industrial & Commercial Bank of China reported $0.69 EPS for the quarter, missing analysts' consensus of $0.73 by $0.04, with a net margin of 24.61% and return on equity of 8.89%.
• Shares traded up 0.2% to $18.34 on Wednesday on below-average volume, and the stock sports a market cap of $326.82 billion and a low PE of 6.60 within a 52-week range of $13.27–$18.75.
• Analyst view: Zacks Research upgraded the shares to a "Hold," and MarketBeat data shows a consensus rating of Hold.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.04), Zacks reports. Industrial & Commercial Bank of China Ltd. had a net margin of 24.61% and a return on equity of 8.89%.

Industrial & Commercial Bank of China Ltd. Stock Up 0.2%

Industrial & Commercial Bank of China Ltd. stock traded up $0.04 during trading on Wednesday, reaching $18.34. The stock had a trading volume of 31,227 shares, compared to its average volume of 51,886. Industrial & Commercial Bank of China Ltd. has a 52-week low of $13.27 and a 52-week high of $18.75. The business has a 50 day moving average price of $17.06 and a 200 day moving average price of $16.40. 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 stock has a market cap of $326.82 billion, a PE ratio of 6.60 and a beta of 0.07.

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 Thursday, April 23rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

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.

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