Standard Chartered (OTCMKTS:SCBFF) Trading Down 0.9% - What's Next?

Key Points

• Standard Chartered's shares dropped 0.9% during trading, closing at $19.46 after hitting a low of $19.15, with a significant decrease in trading volume.
• Two analysts have given the stock a "Hold" rating, and its overall average rating remains at "Hold" according to Citigroup's recent note.
• The company reported strong quarterly earnings with a 0.74 EPS, surpassing the expected 0.60, and generating revenue of $5.51 billion against a forecast of 5.07 billion.

Shares of Standard Chartered PLC (OTCMKTS:SCBFF - Get Free Report) dropped 0.9% during trading on Monday . The company traded as low as $19.15 and last traded at $19.46. Approximately 2,413 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 33,616 shares. The stock had previously closed at $19.64.

Analyst Ratings Changes

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

Standard Chartered Stock Performance

The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.84 and a current ratio of 0.84. The firm's 50 day simple moving average is $18.67 and its 200 day simple moving average is $16.33. The firm has a market capitalization of $45.42 billion, a price-to-earnings ratio of 10.75 and a beta of 0.79.

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