Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Here’s Why

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $26.1325, but opened at $24.86. Standard Chartered shares last traded at $24.86, with a volume of 493 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SCBFF. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Friday, May 1st. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Standard Chartered Stock Down 7.3%

The company has a market capitalization of $55.36 billion, a price-to-earnings ratio of 11.88 and a beta of 0.68. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $24.22 and a 200-day moving average price of $23.69.

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