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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday. Citigroup reaffirmed 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Standard Chartered Price Performance

The firm has a market cap of $51.19 billion, a PE ratio of 12.12 and a beta of 0.74. The business has a fifty day moving average price of $19.91 and a two-hundred day moving average price of $18.16.

Standard Chartered (OTCMKTS:SCBFF) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a return on equity of 10.73% and a net margin of 12.27%.The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.97 billion. As a group, sell-side analysts forecast 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.