Standard Chartered (OTCMKTS:SCBFF) Stock Price Down 3.2% – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price traded down 3.2% during trading on Wednesday . The company traded as low as $23.9375 and last traded at $23.9375. 1,729 shares were traded during trading, a decline of 91% from the average session volume of 20,253 shares. The stock had previously closed at $24.7162.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SCBFF. Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Zacks Research raised Standard Chartered from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Standard Chartered currently has an average rating of “Buy”.

Standard Chartered Trading Down 3.2%

The firm has a 50-day moving average of $21.14 and a 200 day moving average of $19.12. The company has a market cap of $54.42 billion, a P/E ratio of 12.73 and a beta of 0.54.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.97 billion. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%. On average, equities analysts predict that Standard Chartered PLC will post 1.66 EPS for the current year.

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.