Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Should You Sell?

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.7750, but opened at $26.45. Standard Chartered shares last traded at $26.7675, with a volume of 1,874 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. Keefe, Bruyette & Woods raised Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, May 13th. Finally, BNP Paribas Exane raised Standard Chartered to an “outperform” rating in a research report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Down 3.6%

The stock has a market cap of $60.85 billion, a P/E ratio of 13.06 and a beta of 0.68. 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 stock’s fifty day moving average price is $23.64 and its 200 day moving average price is $23.49.

Standard Chartered (OTCMKTS:SCBFF) last announced its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Equities research analysts expect that Standard Chartered PLC will post 2.26 earnings per share for the current year.

About Standard Chartered

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.