Standard Chartered (OTCMKTS:SCBFF) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Standard Chartered (OTCMKTS:SCBFF) posted its earnings results on Tuesday. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02), Zacks reports. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.82 billion.

Standard Chartered Trading Up 0.6%

SCBFF stock traded up $0.14 during mid-day trading on Wednesday, hitting $24.47. 586 shares of the company were exchanged, compared to its average volume of 5,644. The firm has a fifty day simple moving average of $24.63 and a 200 day simple moving average of $21.57. The company has a market capitalization of $55.62 billion, a PE ratio of 13.01 and a beta of 0.52. Standard Chartered has a twelve month low of $10.65 and a twelve month high of $26.45.

Analysts Set New Price Targets

A number of brokerages have commented on SCBFF. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Wednesday. Zacks Research lowered Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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.