Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) released its quarterly earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01, Zacks reports. Svenska Handelsbanken Ab Publ had a net margin of 17.75% and a return on equity of 14.30%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion.

Svenska Handelsbanken Ab Publ Trading Down 2.9%

OTCMKTS SVNLY opened at $7.51 on Thursday. The stock has a market capitalization of $29.74 billion, a price-to-earnings ratio of 10.58 and a beta of 0.62. The stock’s 50 day moving average price is $7.68 and its two-hundred day moving average price is $7.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.02 and a current ratio of 2.02. Svenska Handelsbanken Ab Publ has a 52 week low of $6.14 and a 52 week high of $8.26.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SVNLY shares. Citigroup restated a “sell” rating on shares of Svenska Handelsbanken Ab Publ in a report on Friday, October 9th. Morgan Stanley reaffirmed an “underweight” rating on shares of Svenska Handelsbanken Ab Publ in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Svenska Handelsbanken Ab Publ in a research note on Wednesday, September 16th. Barclays upgraded Svenska Handelsbanken Ab Publ from an “underweight” rating to a “positive” rating in a report on Friday, October 9th. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Svenska Handelsbanken Ab Publ in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Svenska Handelsbanken Ab Publ has an average rating of “Reduce”.

About Svenska Handelsbanken Ab Publ

Svenska Handelsbanken AB (publ), commonly known as Handelsbanken, is a Swedish universal bank providing financial services to individuals, businesses and institutional customers. Its offerings include deposit accounts, lending, mortgages, payment services, cash management, financial advice and other banking solutions.

The bank also provides corporate and investment banking services, including financing, capital markets support, foreign exchange and securities-related services. Through affiliated operations, Handelsbanken offers asset management, pension and insurance-related products to selected customers.

Founded in Stockholm in 1871, Handelsbanken has historically developed a decentralized banking model in which local branches have significant responsibility for customer relationships and credit decisions.