Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – What’s Next?

by · The Cerbat Gem

Standard Chartered PLC (OTCMKTS:SCBFF – Get Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $23.70, but opened at $24.49. Standard Chartered shares last traded at $24.49, with a volume of 473 shares changing hands.

Analyst Ratings Changes

SCBFF has been the topic of a number of research analyst reports. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Read Our Latest Research Report on Standard Chartered

Standard Chartered Price Performance

The stock has a market capitalization of $55.05 billion, a price-to-earnings ratio of 12.88 and a beta of 0.54. The stock has a 50-day moving average of $21.03 and a 200 day moving average of $19.06.

Standard Chartered (OTCMKTS:SCBFF – Get Free Report) last released its earnings results on Thursday, October 30th. The company reported $0.51 earnings per share (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 for the quarter, compared to the consensus estimate of $4.97 billion. Sell-side analysts anticipate that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal year.

About Standard Chartered

(Get Free Report)

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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