Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down - Here's What Happened

Key Points

• Standard Chartered PLC shares gapped down before the market opened, declining from a previous close of $19.83 to an opening of $19.21, reflecting a 2.8% drop in stock price.
• Analysts have maintained a "neutral" rating on the stock, with an average rating of "Hold," indicating cautious sentiment about its future performance.
• In its most recent earnings report, Standard Chartered reported $0.74 earnings per share (EPS), exceeding expectations, alongside a revenue of $5.51 billion for the quarter.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $19.83, but opened at $19.21. Standard Chartered shares last traded at $19.21, with a volume of 100 shares changing hands.

Analysts Set New Price Targets

Separately, Citigroup reissued a "neutral" rating on shares of Standard Chartered in a report on Monday, September 22nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Standard Chartered currently has an average rating of "Hold".

Standard Chartered Stock Down 2.8%

The stock has a market cap of $44.94 billion, a PE ratio of 10.64 and a beta of 0.74. The firm has a 50-day simple moving average of $18.88 and a 200-day simple moving average of $16.53.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.14. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.07 billion. Standard Chartered had a return on equity of 10.73% and a net margin of 12.27%. On average, research analysts expect that Standard Chartered PLC will post 1.66 earnings per share for the current year.

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.

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