Standard Chartered (OTCMKTS:SCBFF) Sets New 12-Month High – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $21.9075 and last traded at $21.7550, with a volume of 2296 shares. The stock had previously closed at $21.0350.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCBFF. Morgan Stanley raised shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 4.0%

The company has a market cap of $51.04 billion, a price-to-earnings ratio of 12.09 and a beta of 0.74. The business’s fifty day simple moving average is $19.81 and its two-hundred day simple moving average is $18.11.

Standard Chartered (OTCMKTS:SCBFF) last posted its earnings results on Thursday, October 30th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a net margin of 12.27% and a return on equity of 10.73%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. Sell-side analysts predict that Standard Chartered PLC will post 1.66 EPS for the current fiscal year.

About Standard Chartered

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.