Zacks: Brokerages Expect Banco Bradesco SA (BBD) to Post $0.19 Earnings Per Share

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Wall Street brokerages predict that Banco Bradesco SA (NYSE:BBD) will announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Banco Bradesco’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.20. Banco Bradesco posted earnings per share of $0.23 during the same quarter last year, which indicates a negative year-over-year growth rate of 17.4%. The business is scheduled to announce its next earnings report on Tuesday, October 30th.

On average, analysts expect that Banco Bradesco will report full-year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.82. For the next fiscal year, analysts forecast that the business will post earnings of $0.83 per share, with EPS estimates ranging from $0.77 to $0.88. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Banco Bradesco.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Wednesday, July 25th. The bank reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Banco Bradesco had a net margin of 12.02% and a return on equity of 17.06%. The business had revenue of $7.31 billion for the quarter.

Several equities analysts recently weighed in on BBD shares. Bank of America reaffirmed a “buy” rating on shares of Banco Bradesco in a research report on Monday, May 21st. ValuEngine cut shares of Banco Bradesco from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Zacks Investment Research cut shares of Banco Bradesco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 19th. Finally, Santander raised shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Banco Bradesco has an average rating of “Buy” and a consensus target price of $12.20.

NYSE BBD traded up $0.17 during trading hours on Wednesday, hitting $7.02. The company’s stock had a trading volume of 14,527,861 shares, compared to its average volume of 12,429,804. Banco Bradesco has a 52 week low of $6.51 and a 52 week high of $13.18. The stock has a market cap of $45.85 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.45 and a beta of 1.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.13 and a current ratio of 1.12.

The company also recently disclosed a special dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Wednesday, September 5th will be paid a $0.0049 dividend. This is a positive change from Banco Bradesco’s previous special dividend of $0.00. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a yield of 0.74%. Banco Bradesco’s dividend payout ratio (DPR) is 5.62%.

Large investors have recently bought and sold shares of the business. Northern Trust Corp increased its stake in Banco Bradesco by 8.0% in the 1st quarter. Northern Trust Corp now owns 7,857,637 shares of the bank’s stock valued at $93,349,000 after buying an additional 583,939 shares during the last quarter. Banco de Sabadell S.A purchased a new stake in Banco Bradesco in the 1st quarter valued at about $3,570,000. Assetmark Inc. increased its stake in Banco Bradesco by 4.3% in the 2nd quarter. Assetmark Inc. now owns 630,221 shares of the bank’s stock valued at $4,323,000 after buying an additional 25,843 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Banco Bradesco by 9.4% in the 1st quarter. Russell Investments Group Ltd. now owns 2,769,143 shares of the bank’s stock valued at $32,897,000 after buying an additional 238,761 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its stake in Banco Bradesco by 20.1% in the 2nd quarter. Standard Life Aberdeen plc now owns 165,169,076 shares of the bank’s stock valued at $1,133,886,000 after buying an additional 27,683,861 shares during the last quarter. Hedge funds and other institutional investors own 3.17% of the company’s stock.

Banco Bradesco Company Profile

Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.

See Also: Price to Earnings Ratio (PE)

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