Standard Chartered (OTCMKTS:SCBFF) Shares Gap Up - Time to Buy?

Key Points

• Standard Chartered shares gapped up before Friday’s trading, opening at $28.3675 versus the prior close of $27.04.
• Analyst sentiment remains supportive, with several recent upgrades and a consensus rating of “Moderate Buy”; four analysts rate it Buy and three rate it Hold.
• The bank reported better-than-expected quarterly earnings, posting $0.72 EPS versus the $0.54 estimate and revenue of $5.90 billion, above forecasts.

Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $27.04, but opened at $28.3675. Standard Chartered shares last traded at $28.3675, with a volume of 207 shares traded.

Analysts Set New Price Targets

SCBFF has been the subject of a number of research analyst reports. Citigroup restated a "neutral" rating on shares of Standard Chartered in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Standard Chartered from a "hold" rating to a "buy" rating in a research report on Tuesday, June 23rd. BNP Paribas Exane upgraded shares of Standard Chartered to an "outperform" rating in a research report on Tuesday, April 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Standard Chartered in a research note on Wednesday. Finally, Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Standard Chartered has a consensus rating of "Moderate Buy".

Standard Chartered Price Performance

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 company has a market capitalization of $65.50 billion, a PE ratio of 14.05 and a beta of 0.69. The stock's 50-day moving average is $26.12 and its two-hundred day moving average is $24.41.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. Standard Chartered had a return on equity of 11.07% and a net margin of 13.63%.The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. On average, equities analysts predict that Standard Chartered PLC will post 2.26 EPS for the current year.

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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