Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Should You Buy?

by · The Cerbat Gem

Standard Chartered PLC (OTCMKTS:SCBFF – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $22.27, but opened at $23.4550. Standard Chartered shares last traded at $23.29, with a volume of 737 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SCBFF. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. Finally, The Goldman Sachs Group upgraded Standard Chartered to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Check Out Our Latest Report on Standard Chartered

Standard Chartered Trading Up 2.7%

The business’s 50-day simple moving average is $20.47 and its two-hundred day simple moving average is $18.62. The company has a market capitalization of $52.01 billion, a PE ratio of 12.17 and a beta of 0.54.

Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%. On average, analysts forecast that Standard Chartered PLC will post 1.66 EPS for the current year.

About Standard Chartered

(Get Free Report)

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.

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