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

Standard Chartered PLC (OTCMKTS:SCBFF) gapped up before the market opened on Tuesday . The stock had previously closed at $19.9925, but opened at $20.8725. Standard Chartered shares last traded at $20.8725, with a volume of 798 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SCBFF shares. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a 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. Zacks Research downgraded shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Citigroup restated a “neutral” rating on shares of Standard Chartered in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The firm has a market capitalization of $47.86 billion, a P/E ratio of 11.20 and a beta of 0.51. The stock’s fifty day simple moving average is $23.80 and its 200 day simple moving average is $22.05.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 earnings per share 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 firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.82 billion. As a group, sell-side analysts forecast that Standard Chartered PLC will post 1.66 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.