ING Groep NV Forecasted to Earn FY2018 Earnings of $1.86 Per Share (ING)

ING Groep NV (NYSE:ING) – Jefferies Group issued their FY2018 earnings estimates for ING Groep in a report issued on Monday. Jefferies Group analyst M. Timat forecasts that the financial services provider will post earnings of $1.86 per share for the year. Jefferies Group also issued estimates for ING Groep’s FY2019 earnings at $2.01 EPS and FY2020 earnings at $2.17 EPS.

Several other research firms have also commented on ING. Zacks Investment Research upgraded ING Groep from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, January 16th. UBS Group reiterated a “buy” rating on shares of ING Groep in a research note on Monday, December 11th. Goldman Sachs Group reiterated a “buy” rating on shares of ING Groep in a research note on Wednesday, December 6th. Deutsche Bank reiterated a “buy” rating on shares of ING Groep in a research note on Thursday, October 12th. Finally, ValuEngine upgraded ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. ING Groep presently has an average rating of “Buy” and a consensus target price of $18.50.

ING Groep (ING) traded down $0.37 during trading on Thursday, reaching $18.36. 2,563,322 shares of the company were exchanged, compared to its average volume of 3,345,601. ING Groep has a 1 year low of $13.63 and a 1 year high of $20.58. The firm has a market cap of $73,680.10, a PE ratio of 13.32, a P/E/G ratio of 1.53 and a beta of 1.20. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.05.

Several institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in shares of ING Groep by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 39,991,232 shares of the financial services provider’s stock worth $738,238,000 after purchasing an additional 1,813,102 shares during the period. Schafer Cullen Capital Management Inc. raised its stake in ING Groep by 12.3% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 4,589,005 shares of the financial services provider’s stock valued at $79,803,000 after acquiring an additional 504,416 shares in the last quarter. Wells Fargo & Company MN raised its stake in ING Groep by 4.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,984,338 shares of the financial services provider’s stock valued at $54,971,000 after acquiring an additional 126,009 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in ING Groep by 9.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,974,651 shares of the financial services provider’s stock valued at $54,793,000 after acquiring an additional 262,142 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in ING Groep by 29.8% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 1,598,915 shares of the financial services provider’s stock valued at $29,516,000 after acquiring an additional 367,355 shares in the last quarter. Institutional investors and hedge funds own 3.02% of the company’s stock.

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About ING Groep

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

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