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

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) gapped up before the market opened on Friday . The stock had previously closed at $24.20, but opened at $26.05. Standard Chartered shares last traded at $25.1675, with a volume of 507 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SCBFF. Keefe, Bruyette & Woods upgraded Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 0.8%

The business has a 50 day simple moving average of $24.47 and a 200 day simple moving average of $23.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $57.22 billion, a PE ratio of 12.28 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last issued 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 return on equity of 11.07% and a net margin of 13.63%.The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.58 billion. On average, equities research analysts forecast that Standard Chartered PLC will post 2.26 EPS for the current fiscal 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.