Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Here’s Why

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) gapped down prior to trading on Tuesday . The stock had previously closed at $26.1325, but opened at $24.86. Standard Chartered shares last traded at $24.86, with a volume of 493 shares.

Analyst Ratings Changes

SCBFF has been the subject of several research reports. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Standard Chartered currently has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 3.2%

The stock has a fifty day simple moving average of $24.39 and a two-hundred day simple moving average of $23.75. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50. The firm has a market cap of $56.75 billion, a PE ratio of 12.18 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.58 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. As a group, sell-side analysts expect that Standard Chartered PLC will post 2.26 EPS for the current fiscal 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.