$792.40 million in sales expected for Banco de Chile (NYSE:BCH) this quarter
Brokers expect Banco de Chile (NYSE:BCH – Get Rating) to post sales of $792.40 million for the current quarter, Zacks reports. Two analysts provided earnings estimates for Banco de Chile, with estimates ranging from $710.36 million to $874.44 million. Banco de Chile recorded sales of $654.10 million in the same quarter last year, suggesting a positive year-on-year growth rate of 21.1%. The company is expected to announce its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Banco de Chile to report annual revenue of $3.15 billion for the current fiscal year, with estimates ranging from $3.09 billion to $3.22 billion. billions of dollars. For the next fiscal year, analysts expect the company to record sales of $3.18 billion, with estimates ranging from $3.17 billion to $3.19 billion. Zacks sales calculations are an average based on a survey of research companies that cover Banco de Chile.
Banco de Chile (NYSE:BCH – Get Rating) last reported quarterly earnings data on Friday, April 29. The bank reported earnings per share of $0.69 for the quarter, beating analysts’ consensus estimate of $0.60 by $0.09. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. The company posted revenue of $560.31 million in the quarter, versus analyst estimates of $742.05 million.
A number of analysts have weighed in on BCH shares recently. Credit Suisse Group upgraded Banco de Chile shares from a “neutral” rating to an “outperforming” rating and raised its share price target from $18.00 to $25.00 in a report research on Wednesday, March 2. JPMorgan Chase & Co. downgraded shares of Banco de Chile from an “overweight” rating to a “neutral” rating and set a price target of $23.00 for the stock. in a report on Thursday, February 17. Zacks Investment Research upgraded shares of Banco de Chile from a “hold” rating to a “buy” rating and set a price target of $23.00 on the stock in a Tuesday, April 12 research note. StockNews.com took over Banco de Chile stock coverage in a Thursday, March 31, research note. They issued a “hold” rating on the stock. Finally, Banco Santander raised shares of Banco de Chile to a “buy” rating and set a target price of $25.00 on the stock in a Friday, May 20 research note. Two investment analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $24.20.
NYSE BCH shares opened at $20.45 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt ratio of 3.12. Banco de Chile has a 12-month low of $15.60 and a 12-month high of $22.74. The company has a market capitalization of $10.33 billion, a PE ratio of 7.33, a growth price-earnings ratio of 0.87 and a beta of 0.31. The company has a fifty-day simple moving average of $20.70 and a two-hundred-day simple moving average of $19.75.
Several hedge funds have recently changed their holdings in the company. Ethic Inc. purchased a new stake in shares of Banco de Chile during the first quarter worth approximately $297,000. UBS Group AG increased its position in Banco de Chile by 70.6% in the first quarter. UBS Group AG now owns 16,679 shares in the bank valued at $358,000 after buying an additional 6,904 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Banco de Chile by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 597,813 shares of the bank valued at $12,795,000 after purchasing an additional 7,462 shares in the last quarter. Banco BTG Pactual SA acquired a new stake in Banco de Chile in the first quarter valued at approximately $3,268,000. Finally, Crossmark Global Holdings Inc. increased its position in Banco de Chile by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank valued at $522,000 after buying 612 additional shares in the last quarter. Institutional investors and hedge funds hold 0.89% of the company’s shares.
About Banco de Chile (Get a rating)
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail, Wholesale and Treasury segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
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