HSBC (NYSE:HSBC) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other analysts also recently weighed in on HSBC. Zacks Investment Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Credit Suisse Group downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 10th. BidaskClub downgraded shares of HSBC from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating on shares of HSBC in a research report on Friday, November 24th. Finally, UBS Group restated a “neutral” rating on shares of HSBC in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Shares of HSBC (NYSE:HSBC) opened at $54.13 on Friday. The firm has a market cap of $213,310.00, a P/E ratio of 39.51, a PEG ratio of 2.47 and a beta of 0.93. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. HSBC has a 12-month low of $39.63 and a 12-month high of $55.89.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.20). research analysts expect that HSBC will post 3.2 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC raised its position in HSBC by 17,341.9% in the 4th quarter. Summit Securities Group LLC now owns 7,500 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 7,457 shares during the last quarter. CIBC World Markets Inc. raised its position in HSBC by 3.5% in the 4th quarter. CIBC World Markets Inc. now owns 59,398 shares of the financial services provider’s stock valued at $3,067,000 after purchasing an additional 2,022 shares during the last quarter. Dean Capital Investments Management LLC purchased a new stake in HSBC in the 4th quarter valued at $200,000. Bessemer Group Inc. raised its position in HSBC by 60.2% in the 4th quarter. Bessemer Group Inc. now owns 2,846 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Cambiar Investors LLC raised its position in HSBC by 0.7% in the 4th quarter. Cambiar Investors LLC now owns 4,552,865 shares of the financial services provider’s stock valued at $235,110,000 after purchasing an additional 32,692 shares during the last quarter. Hedge funds and other institutional investors own 2.23% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2018/02/02/hsbc-hsbc-upgraded-to-buy-by-valuengine.html.

About HSBC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for HSBC (NYSE:HSBC)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.