China Construction Bank (OTCMKTS:CICHY) Shares Gap Down – Here’s Why

China Construction Bank Corp. (OTCMKTS:CICHY) gapped down prior to trading on Wednesday. The stock had previously closed at $27.02, but opened at $26.04. China Construction Bank shares last traded at $26.5325, with a volume of 10,477 shares changing hands.

China Construction Bank Price Performance

The firm has a 50-day simple moving average of $25.07 and a 200 day simple moving average of $22.48. The company has a market capitalization of $347.54 billion, a PE ratio of 6.87 and a beta of 0.12.

China Construction Bank (OTCMKTS:CICHY) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The company had revenue of $29.63 billion for the quarter, compared to analyst estimates of $29.18 billion. China Construction Bank had a return on equity of 9.82% and a net margin of 28.25%. Equities research analysts expect that China Construction Bank Corp. will post 4.09 EPS for the current fiscal year.

China Construction Bank Company Profile

China Construction Bank Corporation is a major commercial bank headquartered in Beijing. Established in 1954 as the People’s Construction Bank of China, it was renamed China Construction Bank in 1996 and reorganized as a joint-stock commercial bank in 2004. The bank has a longstanding role in financing construction and infrastructure, alongside its broader banking activities. CCB serves individuals, businesses and government-related organizations. Its services include deposits, loans, payments and settlement, credit cards, wealth management, investment banking, treasury services and asset management.