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

Standard Chartered PLC (OTCMKTS:SCBFF) gapped down prior to trading on Wednesday . The stock had previously closed at $25.1325, but opened at $24.0025. Standard Chartered shares last traded at $23.8670, with a volume of 917 shares trading hands.

Wall Street Analysts Forecast Growth

SCBFF has been the topic of several research reports. Morgan Stanley raised 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. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Standard Chartered Price Performance

The stock has a market cap of $55.71 billion, a price-to-earnings ratio of 13.03 and a beta of 0.53. The firm has a 50 day simple moving average of $22.46 and a two-hundred day simple moving average of $19.81.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.51 earnings per share 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 business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. On average, sell-side analysts expect that Standard Chartered PLC will post 1.66 earnings per share 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.