Standard Chartered (OTCMKTS:SCBFF) Lowered to “Hold” Rating by Zacks Research

Standard Chartered (OTCMKTS:SCBFF) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Friday. The Goldman Sachs Group upgraded shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Thursday, December 11th. Finally, Morgan Stanley upgraded shares of Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Standard Chartered Trading Down 0.5%

SCBFF stock opened at $24.37 on Monday. The firm has a 50 day moving average of $22.70 and a 200-day moving average of $20.04. The company has a market cap of $55.40 billion, a price-to-earnings ratio of 12.96 and a beta of 0.53. Standard Chartered has a 12-month low of $10.65 and a 12-month high of $25.36.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly 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. Standard Chartered had a return on equity of 10.88% and a net margin of 12.84%.The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Sell-side analysts forecast that Standard Chartered will post 1.66 earnings per share for the current fiscal 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.