Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up - Here's Why

Key Points

• Shares gapped up — Standard Chartered opened at $20.90 versus the prior close of $20.17, with only 224 shares reported traded at that level.
• Analysts are mixed but mildly positive: two firms rate the stock Buy, two rate it Hold, giving a MarketBeat consensus of "Moderate Buy" (Goldman Sachs recently upgraded to Buy while Zacks cut to Hold).
• Quarterly results showed an EPS miss ($0.36 vs. $0.38 estimate) but revenue beat ($4.89B vs. $4.82B); the company has a $46.74B market cap, a P/E of 10.94, and the share price sits below its 50- and 200-day moving averages.

Shares of Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $20.17, but opened at $20.90. Standard Chartered shares last traded at $20.90, with a volume of 224 shares traded.

Analysts Set New Price Targets

A number of research firms recently issued reports on SCBFF. Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Zacks Research cut shares of Standard Chartered from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. The Goldman Sachs Group upgraded shares of Standard Chartered from a "hold" rating to a "buy" rating in a research report on Thursday, December 11th. Finally, Morgan Stanley restated an "overweight" rating on shares of Standard Chartered in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Standard Chartered Price Performance

The firm has a market capitalization of $46.74 billion, a price-to-earnings ratio of 10.94 and a beta of 0.58. The business's fifty day simple moving average is $22.95 and its 200 day simple moving average is $22.15.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.02). Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%.The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.82 billion. Equities research analysts expect that Standard Chartered PLC will post 1.66 earnings per share for the current fiscal year.

About Standard Chartered

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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