Banco Bradesco S.A. (NYSE:BBD) reached $74.7B by 11-January-19 in the wake of -0.71% downturn. The shares gained some momentum after bears carried it down to $11.01. The final price for the day of 11.16 was still down from $11.21. The stock remained range bound between $11.01 and $11.21. Trading activity significantly weakened as the volume at ready counter decreased to 11,116,651 shares versus 14,016,530 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 16,136,263 shares. The stock is now 76.58% above against its bear-market low of $6.32 on September 13, 2018. It has retreated -18.1% since it’s 52-week high of $13.18 reached in January. Now the market price is up 18.45% on the year and up 12.89% YTD.
BBD’s 50 day simple moving average (SMA 50) price is $9.85 and its 200-day simple moving average (SMA 200) price is $8.57. The company’s stock currently has a total float of 4.66B shares. Its weekly volatility is hovering around 2.44% and felt 2.98% volatility in price over a month. On the upside, the share price will test short term resistance at around $11.24. On a downside, the stock is likely to find some support, which begins at $11.04. The failure to get near-term support could push it to $10.93.
Wall Street’s most bullish Banco Bradesco S.A. (NYSE:BBD) analysts are predicting the share price to blow past $12.92 per share during the next 12 months. The current median share price forecast by them is $10.21, suggesting that the stock could increase -8.51% in that time frame. The average price target of $9.92 calls for a nearly -11.11% increase in the stock price.
It had seen a positive analyst call from JP Morgan, which upgraded the stock from Neutral to Overweight on January 22. Analysts at Goldman, shed their negative views on September 11 by lifting it fromNeutral to Buy. Analysts at Citigroup, made their first call about the stock on November 30, recommending it is Buy.
When looking at valuations, Banco Bradesco S.A. (BBD) has a cheap P/E of 15.94x as compared to industry average of 19.01x. Moreover, it trades for 12.54 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.45x price/book and 5.03x price/sales.
Shares of Banco Bradesco S.A. (BBD) have gained 21.7% since the recent earnings report. Over the past 12 fiscal quarters, Banco Bradesco S.A. (NYSE:BBD) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 0 quarters (0%), whereas at 2 occasion EPS met analyst expectations. BBD last reported earnings on November 01, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.22 per share, -98.77% change on the same period last year. That was better than consensus for $0.19. Revenue for the recent quarter stood at $6.19 billion, down -23% on last year and below the $6.44 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $24.7 billion to $27.67 billion, which should be compared with $33.68 billion generated last year. EPS is seen in a range of $20.5 to $20.5, against the $13.44 reported a year ago.