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ING Groep N.V. (ING) 2023 Stock Forecast: Bullish Outlook with 24.71% Upside

ING Groep N.V. (NYSE: ING) is 13.89% higher on its value in year-to-date trading and has touched a low of $8.14 and a high of $15.56 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ING stock was last observed hovering at around $13.69 in the last trading session, with the day’s gains setting it 0.17% off its average median price target of $15.25 for the next 12 months. It is also 24.71% off the consensus price target high of $18.41 offered by 23 analysts, but current levels are -15.79% lower than the price target low of $11.97 for the same period.

Currently trading at $13.86, the stock is 7.11% and 13.06% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.12 million and changing 1.24% at the moment leaves the stock 34.70% off its SMA200. ING registered -2.01% loss for a year compared to 6-month gain of 45.28%.

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The stock witnessed a 12.68% loss in the last 1 month and extending the period to 3 months gives it a 44.98%, and is 3.20% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.44% over the week and 1.30% over the month.

ING Groep N.V. (ING) has around 58000 employees, a market worth around $50.68B and $23.99B in sales. Current P/E ratio is 13.70 and Fwd P/E is 9.18. Profit margin for the company is 13.60%. Distance from 52-week low is 70.27% and -10.91% from its 52-week high. The company has generated returns on investments over the last 12 months (6.90%).

ING Groep N.V. (ING) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ING Groep N.V. (ING) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.00, where 7 rate it as a Hold and 1 think it is a “Overweight”. 15 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

ING Groep N.V. is expected to release its quarterly report on 05/11/2023.The EPS is expected to grow by 92.70% this year.

ING Groep N.V. (ING) Top Institutional Holders

The shares outstanding are 3.73B, and float is at 3.60B with Short Float at 0.08%.

ING Groep N.V. (ING): Who are the competitors?

The company’s main competitors (and peers) include KB Financial Group Inc. (KB) that is trading -6.58% down over the past 12 months and Credicorp Ltd. (BAP) that is 1.65% higher over the same period. JPMorgan Chase & Co. (JPM) is -4.57% down on the 1-year trading charts.

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