HSBC (NYSE:HSBC) Lowered to Underweight at Barclays

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HSBC (NYSE:HSBC) was downgraded by stock analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Wednesday, Marketbeat Ratings reports.

A number of other analysts have also recently commented on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of PG&E in a research report on Friday, June 21st. ValuEngine cut shares of Zuora from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $21.50 price target on shares of Infineon Technologies in a research report on Wednesday, May 22nd. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.80.

Shares of HSBC opened at $41.43 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $164.33 billion, a PE ratio of 13.15, a P/E/G ratio of 2.97 and a beta of 0.66. The firm’s fifty day moving average price is $41.42. HSBC has a 12 month low of $38.23 and a 12 month high of $48.87.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Friday, May 3rd. The financial services provider reported $1.08 EPS for the quarter. The firm had revenue of $14.41 billion for the quarter. As a group, research analysts forecast that HSBC will post 3.61 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in HSBC. Farmers National Bank acquired a new stake in shares of HSBC in the 1st quarter worth about $25,000. Harvest Group Wealth Management LLC acquired a new stake in shares of HSBC in the 1st quarter worth about $27,000. Vigilant Capital Management LLC acquired a new stake in shares of HSBC in the 1st quarter worth about $31,000. Cordasco Financial Network raised its holdings in shares of HSBC by 57.2% in the 2nd quarter. Cordasco Financial Network now owns 838 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 305 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC acquired a new stake in shares of HSBC in the 1st quarter worth about $41,000. 2.49% of the stock is currently owned by institutional investors.

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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