The Ratings Game: Evergy, Inc. (EVRG), ICICI Bank Limited (IBN) – The RNS Daily

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Over the past 52 weeks Evergy, Inc. (NYSE:EVRG) has embarked on a rally that has seen it rise 13.96% and is now up by 1.67% since start of this year. The equity price rose 0.7% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that the stock has recorded a 1.05% gain over the past 30 days. Its equity price climbed by 2.21% over the past three months which led to its overall six-month increase to stand at 2.87%.

The shares of Evergy, Inc. (EVRG) dropped by -5.53% or -$3.38 from its last recorded high of $61.1 which it attained on November 16 to close at $57.72 per share. Over the past 52 weeks, the shares of Evergy, Inc. has been trading as low as $50.47 before witnessing a massive surge by 14.36% or $7.25. This price movement has led to the EVRG stock receiving more attention and has become one to watch out for. It jumped by 0.54% on Sunday and this got the market excited. The stock’s beta now stands at 0.27 and when compared to its 200-day moving average and its 50-day moving average, EVRG price stands 1.18% above and 0.98% above respectively. Its average daily volatility for this week is 1.26% which is less than the 1.54% recorded over the past month.

Experts from research firms are bullish about the near-term performance of Evergy, Inc. with most of them predicting a $59.75 price target on a short-term (12 months) basis. The average price target by the analysts will see a 3.52% rise in the stock and would lead to EVRG’s market cap to surge to $15.65B. The stock has been rated an average 1.9, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 9 analysts that track Evergy, Inc. (NYSE:EVRG) and find out that 1 of them rated it as a Hold. 7 of the 8 analysts rated it as a Buy or a Strong Buy while 1 advised investors to desist from buying the stock or sell it if they already possess it.

A look at EVRG technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 52.64 point. Its trading volume has lost -685305 shares compared to readings over the past three months as it recently exchanged 1184695 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1870000 shares, and this is 0.63 times the normal volume.

The price of ICICI Bank Limited (NYSE:IBN) currently stands at $11.25 after it went up by $0.06 or 0.54% and has found a strong support at $11.22 a share. If the IBN price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $11.18 mark would also be bad for the stock as it means that the stock would plunge by 0.62% from its current position. However, if the stock price is able to trade above the resistance point around $11.28, then it could likely surge higher to try and break the upward resistance which stands at $11.3 a share. Its average daily volatility over the past one month stands at 1.1%. The stock has plunged by 0.36% from its 52-weeks high of $11.21 which it reached on Feb. 04, 2019. In general, it is 32.36% above its 52-weeks lowest point which stands at $7.61 and this setback was observed on Jul. 16, 2018.

Analysts have predicted a price target for ICICI Bank Limited (IBN) for 1 year and it stands at an average $12.68/share. This means that it would likely increase by 12.71% from its current position. The current price of the stock has been moving between $11.21 and $11.27. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $10.25. On the other hand, one analyst is super bullish about the price, setting a target as high as $15.34.

The IBN stock Stochastic Oscillator (%D) is at 29.42%, which means that it is currently oversold and its prices could jump very soon. The shares P/S ratio stands at 8.39 which compares to the 8.28 recorded by the industry or the 10.79 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 16.69, which is lower than the 40.04 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -5.6% over the past five years.

Analysts view ICICI Bank Limited (NYSE:IBN) as a Hold, with 2.5 consensus rating. Reuters surveyed 2 analysts that follow IBN and found that 1 of those analysts rated the stock as a Hold. The remaining 1 were divided, with 1 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying ICICI Bank Limited (IBN) shares or sell it if they already own it.

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