Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up on Strong Earnings

Key Points

• Standard Chartered reported a strong quarter with a EPS of $0.72 vs. $0.54 expected and revenue of $5.90 billion versus $5.58 billion consensus, prompting the stock to gap up from $23.63 to an open of $25.90 (last traded $25.56).
• Analysts have become more positive—BNP Paribas Exane upgraded to "outperform" and Morgan Stanley reaffirmed "overweight"—leaving a MarketBeat average rating of Moderate Buy; the stock trades at a P/E of 13.6 with a market cap of $58.11 billion.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report)'s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $23.6250, but opened at $25.8975. Standard Chartered shares last traded at $25.56, with a volume of 505 shares.

The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. Standard Chartered had a return on equity of 10.77% and a net margin of 12.86%.The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $5.58 billion.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas Exane upgraded Standard Chartered to an "outperform" rating in a research report on Tuesday, April 14th. Citigroup reaffirmed a "neutral" rating on shares of Standard Chartered in a research report on Wednesday, February 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of Standard Chartered in a research report on Monday, April 13th. Finally, Zacks Research cut Standard Chartered from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Standard Chartered currently has an average rating of "Moderate Buy".

Standard Chartered Stock Performance

The stock has a 50 day simple moving average of $22.45 and a 200 day simple moving average of $22.62. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.50. The stock has a market cap of $58.11 billion, a P/E ratio of 13.60 and a beta of 0.58.

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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