Itau Unibanco Holding S.A. (NYSE:ITUB) is one of the best performers on the stock market today. At current price of $8.37, the shares have already added 0.23 points (2.83% higher) from its previous close of $8.14. Should you buy or avoid them? The stock sets an active trading volume day with a reported 14269704 contracts so far this session. ITUB shares had a relatively better volume day versus average trading capacity of 18.42 million shares, but with a 5.3 billion float and a -3.21% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ITUB stock indicates that the average analyst price target is $10.36 per share. This means the stock has a potential increase of 23.78% from where the ITUB share price has been trading recently which is between $8.13 and $8.2.
During the recent trading session for Itau Unibanco Holding S.A. (NYSE:ITUB), the company witnessed their stock drop by $-0.11 over a week and tumble down $-0.7 from the price 20 days ago. When compared to their established 52-week high of $10.8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/02/19. The recent low of $7.59 stood for a -19.04% since 05/17/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.78 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 Itau Unibanco Holding S.A., the two-week RSI stands at 47.66. This figure suggests that ITUB 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 ITUB readings is similarly very revealing as it has a stochastic reading of 32.05% at this stage. This figure means that ITUB share price today is being neutral.
Technical chart claims that Itau Unibanco Holding S.A. (ITUB) would settle between $8.18/share to $8.23/share level. However, if the stock price goes below the $8.11 mark, then the market for Itau Unibanco Holding S.A. becomes much weaker. If that happens, the stock price might even plunge as low as $8.09 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.06. 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 UBS lowered their recommendation on shares of ITUB from Buy to Neutral in their opinion released on November 21. JP Morgan analysts have lowered their rating of Itau Unibanco Holding S.A. (NYSE:ITUB) stock from Overweight to Neutral in a separate flash note issued to investors on November 19. Analysts at Citigroup released an upgrade from Neutral to Buy for the stock, in a research note that dated back to August 27.
ITUB equity has an average rating of 2.4, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 2 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. 1 analysts rated Itau Unibanco Holding S.A. (NYSE:ITUB) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ITUB stock price is currently trading at 10.24X forward 12-month Consensus EPS estimates, and its P/E ratio is 13.3 while for the average stock in the same group, the multiple is 11.5. Itau Unibanco Holding S.A. current P/B ratio of 2.6 means it is trading at a premium against its industry’s 1.3.
Itau Unibanco Holding S.A. (ITUB)’s current-quarter revenues are projected to climb by nearly 5.4% to hit $7.88 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -4.1% from $30.6 billion to a noteworthy $29.36 billion. At the other end of the current quarter income statement, Itau Unibanco Holding S.A. is expected to see its adjusted earnings surge by roughly 5.9% to hit $0.18 per share. For the fiscal year, ITUB’s earnings are projected to climb by roughly -1.4% to hit $0.71 per share.