Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Time to Buy?
by Tristan Rich · The Markets DailyStandard Chartered PLC (OTCMKTS:SCBFF – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $19.9925, but opened at $20.8725. Standard Chartered shares last traded at $20.8725, with a volume of 798 shares traded.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on SCBFF. Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group raised Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy”.
Read Our Latest Report on SCBFF
Standard Chartered Price Performance
The company has a market cap of $48.63 billion, a PE ratio of 11.38 and a beta of 0.51. The company’s fifty day moving average price is $23.67 and its 200 day moving average price is $22.07.
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.82 billion. On average, analysts forecast that Standard Chartered PLC will post 1.66 EPS for the current year.
About Standard Chartered
Standard Chartered plc is a British multinational banking and financial services company headquartered in London. The firm traces its modern form to the 1969 merger of the Chartered Bank of India, Australia and China (founded in 1853) and Standard Bank of British South Africa (founded in 1862), creating an international bank with deep historical roots in trade finance and cross-border banking. Standard Chartered maintains a global footprint and a long-standing focus on facilitating trade and capital flows between developed and emerging markets.
Standard Chartered provides a broad range of banking and financial services for corporate, institutional and individual clients.