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

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price gapped down before the market opened on Monday . The stock had previously closed at $24.8920, but opened at $23.24. Standard Chartered shares last traded at $23.1750, with a volume of 7,517 shares traded.

Wall Street Analysts Forecast Growth

SCBFF has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, January 14th. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Finally, Zacks Research lowered shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Down 5.3%

The company has a market cap of $50.24 billion, a P/E ratio of 11.76 and a beta of 0.51. The firm has a fifty day moving average price of $24.65 and a 200 day moving average price of $21.76.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). Standard Chartered had a net margin of 12.86% and a return on equity of 10.77%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. On average, sell-side analysts anticipate 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.