Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Here’s What Happened
by Mitch Edgeman · The Markets DailyShares of Standard Chartered PLC (OTCMKTS:SCBFF – Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $24.7162, but opened at $23.65. Standard Chartered shares last traded at $24.2250, with a volume of 2,654 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. Zacks Research raised Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. 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, Morgan Stanley raised shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.
Read Our Latest Report on Standard Chartered
Standard Chartered Price Performance
The firm has a 50-day moving average of $21.33 and a 200 day moving average of $19.19. The stock has a market capitalization of $55.73 billion, a price-to-earnings ratio of 13.04 and a beta of 0.54.
Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.97 billion. On average, equities analysts forecast that Standard Chartered PLC will post 1.66 earnings per share 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.