Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $23.70, but opened at $24.49. Standard Chartered shares last traded at $24.49, with a volume of 473 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. Finally, Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Standard Chartered Price Performance

The company has a fifty day moving average price of $21.24 and a two-hundred day moving average price of $19.16. The firm has a market cap of $54.42 billion, a price-to-earnings ratio of 12.73 and a beta of 0.54.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly 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. On average, research analysts expect that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal 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.