Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped up before the market opened on Thursday . The stock had previously closed at $24.7425, but opened at $26.0975. Standard Chartered shares last traded at $26.0975, with a volume of 240 shares trading hands.

Analyst Upgrades and Downgrades

SCBFF has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a report on Friday, May 1st. Finally, BNP Paribas Exane raised Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Standard Chartered presently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $22.87 and a 200-day moving average of $23.20. The stock has a market cap of $59.11 billion, a PE ratio of 12.68 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last released its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%.The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Research analysts predict that Standard Chartered PLC will post 2.26 EPS for the current 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.