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

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Up 0.1%

IDCBY stock opened at $17.42 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75. The firm has a 50-day moving average of $17.36 and a two-hundred day moving average of $16.95. Industrial & Commercial Bank of China Ltd. has a 12 month low of $13.92 and a 12 month high of $18.75. The company has a market cap of $310.43 billion, a price-to-earnings ratio of 6.13 and a beta of 0.11.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last issued its earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.04). The company had revenue of $32.05 billion for the quarter, compared to analyst estimates of $30.88 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.95% and a net margin of 24.78%. As a group, analysts forecast that Industrial & Commercial Bank of China Ltd. will post 3.15 earnings per share for the current fiscal year.

About Industrial & Commercial Bank of China Ltd.

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.