Banco Bradesco S.A. (NYSE:BBD) is one of the best performers on the stock market today. At current price of $8.67, the shares have already added 0.22 points (2.6% higher) from its previous close of $8.45. Should you buy or avoid them? The stock sets an active trading volume day with a reported 9066224 contracts so far this session. BBD shares had a relatively better volume day versus average trading capacity of 13.53 million shares, but with a 5.76 billion float and a -0.24% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BBD stock indicates that the average analyst price target is $10.45 per share. This means the stock has a potential increase of 20.53% from where the BBD share price has been trading recently which is between $8.2977 and $8.525. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $8.01.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “CS vs. BBD: Which Stock Should Value Investors Buy Now?” and dated August 02, 2019.
During the recent trading session for Banco Bradesco S.A. (NYSE:BBD), the company witnessed their stock rise $0.05 over a week and tumble down $-1.34 from the price 20 days ago. When compared to their established 52-week high of $10.55, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/07/19. The recent low of $5.41 stood for a -17.77% since 09/13/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Banco Bradesco S.A., the two-week RSI stands at 38.48. This figure suggests that BBD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BBD readings is similarly very revealing as it has a stochastic reading of 15.33% at this stage. This figure means that BBD share price today is being overbought.
Technical chart claims that Banco Bradesco S.A. (BBD) would settle between $8.55/share to $8.64/share level. However, if the stock price goes below the $8.33 mark, then the market for Banco Bradesco S.A. becomes much weaker. If that happens, the stock price might even plunge as low as $8.2 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.08. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Morgan Stanley raised their recommendation on shares of BBD from Equal-Weight to Overweight in their opinion released on August 07. Goldman, analysts launched coverage of Banco Bradesco S.A. (NYSE:BBD) stock with a Sell recommendation, according to their flash note issued to investors on June 10. Analysts at JP Morgan released an upgrade from Neutral to Overweight for the stock, in a research note that dated back to January 22.
BBD equity has an average rating of 2.67, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated Banco Bradesco S.A. (NYSE:BBD) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BBD stock price is currently trading at 9.39X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.2 while for the average stock in the same group, the multiple is 5.93. Banco Bradesco S.A. current P/E ratio of 12.19 means it is trading at a discount against its industry’s 19.15. In the past 5 years, this ratio for the stock has been fluctuating between 5.28 and 12.01.
Banco Bradesco S.A. (BBD)’s current-quarter revenues are projected to climb by nearly -22.21% to hit $6.57 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -20.81% from $34.57 billion to a noteworthy $27.38 billion. At the other end of the current quarter income statement, Banco Bradesco S.A. is expected to see its adjusted earnings surge by roughly 11.11% to hit $0.2 per share. For the fiscal year, BBD’s earnings are projected to climb by roughly 9.86% to hit $0.78 per share.