Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Here’s Why

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price 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 changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research upgraded Standard Chartered from a “hold” rating to a “strong-buy” rating in a 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. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. Finally, Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Standard Chartered Price Performance

The stock has a market cap of $54.93 billion, a PE ratio of 12.85 and a beta of 0.53. The business has a fifty day moving average of $22.28 and a 200-day moving average of $19.75.

Standard Chartered (OTCMKTS:SCBFF) last issued its 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 return on equity of 10.88% and a net margin of 12.84%.The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.97 billion. As a group, equities research analysts predict that Standard Chartered PLC will post 1.66 EPS 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.