Standard Chartered (OTCMKTS:SCBFF) Reaches New 12-Month High After Earnings Beat

Key Points

• Standard Chartered shares hit a new 12-month high, trading as high as $30 after the bank reported stronger-than-expected quarterly results.
• Quarterly earnings were $0.75 per share, exceeding the $0.66 consensus estimate, while revenue reached $5.70 billion versus expectations of $5.59 billion.
• Analyst sentiment remains generally positive, with four Buy ratings and four Hold ratings, resulting in a MarketBeat consensus rating of “Moderate Buy.”

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $30.00 and last traded at $30.00, with a volume of 281 shares changing hands. The stock had previously closed at $28.00.

The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.59 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a research note on Thursday, July 16th. Morgan Stanley restated an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. 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 research note on Wednesday, May 6th. Finally, UBS Group cut shares of Standard Chartered from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Standard Chartered has an average rating of "Moderate Buy".

Standard Chartered Stock Performance

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 has a 50 day moving average price of $26.90 and a 200 day moving average price of $24.76. The stock has a market capitalization of $68.20 billion, a PE ratio of 14.63 and a beta of 0.69.

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.

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