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

Standard Chartered PLC (OTCMKTS:SCBFF) gapped down before the market opened on Tuesday . The stock had previously closed at $26.1325, but opened at $24.86. Standard Chartered shares last traded at $24.86, with a volume of 493 shares.

Analyst Ratings Changes

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

Standard Chartered Stock Down 7.3%

The business’s 50 day simple moving average is $24.22 and its 200-day simple moving average is $23.69. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $55.36 billion, a price-to-earnings ratio of 11.88 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%. Sell-side 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.