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

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

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

IDCBY traded up $0.62 during trading on Friday, hitting $20.38. The company’s stock had a trading volume of 84,133 shares, compared to its average volume of 51,776. Industrial & Commercial Bank of China Ltd. has a twelve month low of $15.05 and a twelve month 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 firm has a market capitalization of $363.18 billion, a P/E ratio of 7.08 and a beta of 0.09. The stock’s fifty day moving average price is $19.25 and its 200-day moving average price is $17.77.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Company Profile

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.