Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Time to Buy?
by Michael Walen · The Markets DailyStandard Chartered PLC (OTCMKTS:SCBFF – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $19.96, but opened at $21.5250. Standard Chartered shares last traded at $21.0375, with a volume of 595 shares.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SCBFF. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Finally, Zacks Research lowered Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Standard Chartered has an average rating of “Moderate Buy”.
Get Our Latest Stock Analysis on SCBFF
Standard Chartered Trading Up 8.2%
The stock’s 50 day moving average price is $24.20 and its two-hundred day moving average price is $21.98. The firm has a market capitalization of $49.11 billion, a PE ratio of 11.49 and a beta of 0.51.
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.82 billion. Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. Analysts expect that Standard Chartered PLC will post 1.66 earnings per share for the current year.
Standard Chartered Company Profile
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.