Standard Chartered PLC (OTCMKTS:SCBFF) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Standard Chartered received a “Moderate Buy” consensus rating from eight analysts, with five buy ratings and three holds. Recent changes included upgrades from Keefe, Bruyette & Woods and Deutsche Bank, while UBS downgraded the stock to hold.
• The stock opened at $29.72, near its 52-week high of $31.98, with a market capitalization of $67.57 billion and a P/E ratio of 14.14.
• Quarterly results exceeded expectations: Standard Chartered reported $0.75 in EPS versus a $0.66 estimate and revenue of $5.70 billion, above the $5.59 billion consensus forecast.

Shares of Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company.

Several research analysts have recently weighed in on SCBFF shares. Keefe, Bruyette & Woods raised Standard Chartered from a "hold" rating to a "moderate buy" rating in a research report on Monday, September 14th. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a "hold" rating to a "buy" rating in a research report on Tuesday, June 23rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Standard Chartered in a research note on Wednesday, July 8th. Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Finally, UBS Group lowered shares of Standard Chartered from a "buy" rating to a "hold" rating in a research report on Thursday, July 23rd.

Standard Chartered Stock Performance

OTCMKTS SCBFF opened at $29.72 on Tuesday. The stock has a market cap of $67.57 billion, a price-to-earnings ratio of 14.14 and a beta of 0.66. The business has a 50 day simple moving average of $29.69 and a 200 day simple moving average of $26.67. Standard Chartered has a 52-week low of $18.03 and a 52-week high of $31.98.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%. The company had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.59 billion. On average, analysts predict that Standard Chartered will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Standard Chartered

A hedge fund recently raised its stake in Standard Chartered stock. Madison Asset Management LLC lifted its holdings in shares of Standard Chartered PLC (OTCMKTS:SCBFF - Free Report) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,447 shares of the company's stock after buying an additional 5,154 shares during the period. Madison Asset Management LLC's holdings in Standard Chartered were worth $2,313,000 at the end of the most recent quarter.

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides financial services to individuals, businesses, financial institutions and governments through operations spanning Asia, the Middle East and Africa, as well as selected markets in Europe and the Americas.

Its principal businesses include corporate, commercial and institutional banking; transaction banking; financial markets; wealth management; and retail banking. Standard Chartered offers services such as lending, trade finance, cash management, foreign exchange, investment banking, asset management, mortgages, personal banking and investment products.

The group traces its origins to the Chartered Bank of India, Australia and China, founded in 1853, and the Standard Bank of British South Africa, founded in 1862.

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