Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up – Time to Buy?

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $26.7250, but opened at $27.6775. Standard Chartered shares last traded at $27.6775, with a volume of 433 shares trading hands.

Wall Street Analyst Weigh In

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

Standard Chartered Price Performance

The stock has a market capitalization of $60.29 billion, a P/E ratio of 12.94 and a beta of 0.68. The business has a fifty day simple moving average of $25.42 and a 200 day simple moving average of $24.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.58 billion. On average, analysts expect that Standard Chartered PLC will post 2.26 earnings per share 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.