Standard Chartered (OTCMKTS:SCBFF) Sets New 52-Week High – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.03 and last traded at $23.53, with a volume of 7191 shares trading hands. The stock had previously closed at $23.4450.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SCBFF. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Zacks Research raised shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. Finally, Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Monday, November 3rd. One equities research 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. According to data from MarketBeat, Standard Chartered has a consensus rating of “Buy”.

Standard Chartered Price Performance

The firm has a market capitalization of $53.63 billion, a PE ratio of 12.55 and a beta of 0.54. The company’s fifty day simple moving average is $20.78 and its 200 day simple moving average is $18.87.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.97 billion. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. On average, analysts anticipate that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal year.

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.