Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF) shares gapped down prior to trading on Thursday . The stock had previously closed at $22.5950, but opened at $21.8350. Standard Chartered shares last traded at $22.01, with a volume of 3,861 shares changing hands.

Wall Street Analysts Forecast Growth

SCBFF has been the subject of several research analyst reports. Morgan Stanley raised Standard Chartered from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 24th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Monday, November 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Performance

The company has a market cap of $51.92 billion, a price-to-earnings ratio of 11.84 and a beta of 0.54. The firm’s 50 day simple moving average is $20.15 and its 200-day simple moving average is $18.37.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. As a group, sell-side analysts expect 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.