Jefferies Group Comments on HDFC Bank Limited’s FY2018 Earnings (HDB)

HDFC Bank Limited (NYSE:HDB) – Stock analysts at Jefferies Group reduced their FY2018 EPS estimates for HDFC Bank Limited in a research note issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst N. Karfa now forecasts that the bank will earn $3.09 per share for the year, down from their prior forecast of $3.18. Jefferies Group has a “Buy” rating on the stock.

A number of other brokerages also recently commented on HDB. Zacks Investment Research upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Wednesday, August 16th. Morgan Stanley upgraded HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. HDFC Bank Limited currently has a consensus rating of “Buy” and an average price target of $110.00.

ILLEGAL ACTIVITY WARNING: “Jefferies Group Comments on HDFC Bank Limited’s FY2018 Earnings (HDB)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/11/13/jefferies-group-comments-on-hdfc-bank-limiteds-fy2018-earnings-hdb.html.

HDFC Bank Limited (NYSE:HDB) opened at $94.02 on Friday. The company has a market capitalization of $80,310.19, a PE ratio of 35.35, a PEG ratio of 1.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.91. HDFC Bank Limited has a fifty-two week low of $59.00 and a fifty-two week high of $100.26.

Several institutional investors have recently bought and sold shares of HDB. Egerton Capital UK LLP bought a new position in shares of HDFC Bank Limited during the 2nd quarter worth approximately $196,127,000. Harding Loevner LP raised its position in HDFC Bank Limited by 177.5% in the 2nd quarter. Harding Loevner LP now owns 3,508,003 shares of the bank’s stock valued at $305,091,000 after purchasing an additional 2,244,012 shares during the last quarter. BlackRock Inc. raised its position in HDFC Bank Limited by 105.1% in the 2nd quarter. BlackRock Inc. now owns 2,103,171 shares of the bank’s stock valued at $182,912,000 after purchasing an additional 1,077,828 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in HDFC Bank Limited by 170.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,357,680 shares of the bank’s stock valued at $118,078,000 after purchasing an additional 854,828 shares during the last quarter. Finally, FMR LLC raised its position in HDFC Bank Limited by 4.1% in the 2nd quarter. FMR LLC now owns 14,824,081 shares of the bank’s stock valued at $1,289,251,000 after purchasing an additional 589,126 shares during the last quarter. Institutional investors and hedge funds own 17.81% of the company’s stock.

About HDFC Bank Limited

HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.

Get a free copy of the Zacks research report on HDFC Bank Limited (HDB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for HDFC Bank Limited (NYSE:HDB)

Receive News & Ratings for HDFC Bank Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply