Standard Chartered (OTCMKTS:SCBFF) Sets New 52-Week High – What’s Next?

Standard Chartered PLC (OTCMKTS:SCBFF) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.0725 and last traded at $28.0725, with a volume of 558 shares trading hands. The stock had previously closed at $26.6150.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. BNP Paribas Exane upgraded Standard Chartered to an “outperform” rating in a report on Tuesday, April 14th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Standard Chartered Stock Up 4.4%

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average price is $25.67 and its two-hundred day moving average price is $24.25. The stock has a market capitalization of $63.79 billion, a PE ratio of 13.69 and a beta of 0.68.

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