HSBC’s (HSBC) Hold (C) Rating Reiterated at Weiss Ratings

HSBC (NYSE:HSBC)‘s stock had its “hold (c)” rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on HSBC. Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a report on Monday, September 22nd. Finally, BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

HSBC Price Performance

HSBC stock opened at $71.49 on Wednesday. The company’s fifty day moving average price is $66.72 and its 200 day moving average price is $61.09. HSBC has a 1 year low of $43.81 and a 1 year high of $72.21. The stock has a market capitalization of $248.11 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The firm had revenue of $16.90 billion for the quarter, compared to analysts’ expectations of $16.64 billion. As a group, equities research analysts anticipate that HSBC will post 6.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Focus Partners Advisor Solutions LLC raised its holdings in shares of HSBC by 4.4% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 168 shares during the period. Moors & Cabot Inc. raised its holdings in HSBC by 2.7% in the 2nd quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock valued at $435,000 after buying an additional 189 shares during the period. Lido Advisors LLC raised its holdings in HSBC by 3.1% in the 2nd quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider’s stock valued at $381,000 after buying an additional 189 shares during the period. Westover Capital Advisors LLC raised its holdings in HSBC by 2.5% in the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock valued at $468,000 after buying an additional 200 shares during the period. Finally, Contravisory Investment Management Inc. raised its holdings in HSBC by 4.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock valued at $302,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.