Standard Chartered (OTCMKTS:SCBFF) Rating Lowered to Hold at Zacks Research

by · The Markets Daily

Standard Chartered (OTCMKTS:SCBFF – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Friday. 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

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Standard Chartered Trading Up 0.9%

Shares of SCBFF stock traded up $0.21 on Monday, hitting $24.58. 150 shares of the stock were exchanged, compared to its average volume of 9,161. Standard Chartered has a one year low of $10.65 and a one year high of $25.36. The firm’s 50 day moving average is $22.70 and its two-hundred day moving average is $20.04. The firm has a market capitalization of $55.88 billion, a PE ratio of 13.07 and a beta of 0.53.

Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.97 billion. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. On average, sell-side analysts expect that Standard Chartered will post 1.66 earnings per share for the current year.

Standard Chartered Company Profile

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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.

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