Brokerages forecast that HDFC Bank Limited (NYSE:HDB) will post earnings of $0.61 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for HDFC Bank's earnings. HDFC Bank reported earnings of $0.52 per share during the same quarter last year, which suggests a positive year over year growth rate of 17.3%. The business is expected to report its next quarterly earnings report on Friday, April 16th.
According to Zacks, analysts expect that HDFC Bank will report full year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.33 to $2.40. For the next fiscal year, analysts forecast that the firm will post earnings of $2.92 per share, with EPS estimates ranging from $2.77 to $3.05. Zacks' EPS calculations are an average based on a survey of sell-side research analysts that follow HDFC Bank.
HDFC Bank (NYSE:HDB) last released its earnings results on Friday, January 15th. The bank reported $0.64 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.54 by $0.10. The firm had revenue of $3.43 billion during the quarter. HDFC Bank had a net margin of 19.69% and a return on equity of 15.48%.
Separately, Zacks Investment Research upgraded shares of HDFC Bank from a "hold" rating to a "buy" rating and set a $82.00 price objective for the company in a research note on Monday, January 11th.
NYSE:HDB opened at $80.75 on Thursday. HDFC Bank has a one year low of $29.50 and a one year high of $82.62. The stock has a market cap of $147.59 billion, a P/E ratio of 38.09, a PEG ratio of 1.50 and a beta of 0.89. The company has a fifty day moving average price of $74.05 and a 200 day moving average price of $60.93.
Several hedge funds and other institutional investors have recently modified their holdings of HDB. Morgan Stanley boosted its stake in shares of HDFC Bank by 42.6% in the 3rd quarter. Morgan Stanley now owns 15,693,962 shares of the bank's stock valued at $784,072,000 after purchasing an additional 4,691,302 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of HDFC Bank by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,723,696 shares of the bank's stock valued at $1,797,995,000 after purchasing an additional 1,522,821 shares during the last quarter. Sarasin & Partners LLP bought a new position in shares of HDFC Bank in the 3rd quarter valued at about $54,086,000. BlackRock Inc. boosted its stake in shares of HDFC Bank by 123.7% in the 3rd quarter. BlackRock Inc. now owns 1,681,205 shares of the bank's stock valued at $83,993,000 after purchasing an additional 929,580 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of HDFC Bank by 2.6% in the 3rd quarter. WCM Investment Management LLC now owns 25,039,555 shares of the bank's stock valued at $1,250,976,000 after purchasing an additional 633,513 shares during the last quarter. 17.76% of the stock is currently owned by institutional investors.
HDFC Bank Company Profile
HDFC Bank Limited provides various banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company accepts savings, salary, current, and Demat accounts; fixed and recurring deposits; and safe deposit lockers, and rural and pension accounts, as well as offshore accounts and deposits, overdrafts against fixed deposits and salaries, and sweep-in facilities.
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