Morningstar Gives BBB+ Credit Rating to Banco Bradesco SA (BBD)
Banco Bradesco SA (NYSE:BBD) has received a “BBB+” credit rating from analysts at Morningstar. The agency’s “BBB+” rating suggests that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Banco Bradesco SA in a research note on Friday, July 25th. They now have a $16.00 price target on the stock, up previously from $14.00.
Shares of Banco Bradesco SA (NYSE:BBD) opened at 18.53 on Wednesday. Banco Bradesco SA has a one year low of $10.23 and a one year high of $18.57. The stock has a 50-day moving average of $16.02 and a 200-day moving average of $14.51. The company has a market cap of $77.741 billion and a P/E ratio of 12.50.
Banco Bradesco SA (NYSE:BBD) last announced its earnings results on Monday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Analysts expect that Banco Bradesco SA will post $1.53 EPS for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Wednesday, October 8th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.0092 per share. The ex-dividend date of this dividend is Tuesday, September 2nd.
Banco Bradesco SA (NYSE:BBD) is a Brazil-based bank.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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