Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down - Time to Sell?

Key Points

• Standard Chartered PLC shares gapped down from $19.61 to $19.12 before the market opened, indicating potential market concerns.
• According to Citigroup, the stock currently holds a "neutral" rating, with two analysts assigning a "Hold" rating, resulting in an average rating of "Hold".
• The company beat earnings expectations by reporting $0.74 EPS against a consensus estimate of $0.60, with a revenue of $5.51 billion surpassing the expected $5.07 billion.

Shares of Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $19.61, but opened at $19.12. Standard Chartered shares last traded at $19.12, with a volume of 122 shares.

Analysts Set New Price Targets

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

Standard Chartered Stock Down 0.4%

The business has a fifty day moving average of $18.73 and a 200 day moving average of $16.38. The firm has a market cap of $45.60 billion, a P/E ratio of 10.80 and a beta of 0.74.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.14. Standard Chartered had a return on equity of 10.73% and a net margin of 12.27%.The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.07 billion. On average, sell-side analysts expect that Standard Chartered PLC will post 1.66 EPS for the current fiscal year.

About Standard Chartered

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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