Standard Chartered (SCBFF) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Standard Chartered is expected to report quarterly earnings before the market opens Wednesday, October 28. Analysts forecast earnings of $0.566 per share and revenue of $5.63 billion.
• In the prior quarter, the bank reported $0.75 EPS, beating estimates of $0.66, while revenue reached $5.70 billion versus the $5.59 billion consensus.
• Analyst sentiment is moderately positive: five analysts rate the stock a Buy and three rate it a Hold, resulting in a consensus “Moderate Buy” rating. Shares recently opened at $27.50, with a market capitalization of $62.52 billion.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) is anticipated to announce its results before the market opens on Wednesday, October 28th. Analysts expect the company to post earnings of $0.5660 per share and revenue of $5.63 billion for the quarter.

Standard Chartered (OTCMKTS:SCBFF - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. Standard Chartered had a net margin of 13.79% and a return on equity of 10.84%. The company had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.59 billion. On average, analysts expect Standard Chartered to post $2.40 EPS for the current fiscal year and $2.79 EPS for the next fiscal year.

Standard Chartered Stock Performance

SCBFF stock opened at $27.50 on Wednesday. The stock has a market capitalization of $62.52 billion, a PE ratio of 11.56 and a beta of 0.66. The company has a fifty day moving average of $29.38 and a 200-day moving average of $27.23. Standard Chartered has a one year low of $18.03 and a one year high of $31.98.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SCBFF shares. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a "hold" rating to a "moderate buy" rating in a research report on Monday, September 14th. UBS Group cut Standard Chartered from a "buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a research report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a "hold" rating to a "buy" rating in a research note on Tuesday, June 23rd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Standard Chartered in a report on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Standard Chartered currently has a consensus rating of "Moderate Buy".

About Standard Chartered

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. The company provides banking and financial services to individuals, businesses, financial institutions and governments, with a particular focus on markets across Asia, Africa and the Middle East.

Its principal businesses include corporate and institutional banking, commercial banking, wealth management, private banking and consumer banking. Products and services include transaction banking, trade finance, lending, cash management, investment banking, foreign exchange, capital markets, investment services, mortgages, personal loans and deposit accounts.

Standard Chartered traces its origins to the Chartered Bank of India, Australia and China, founded in 1853, and the Standard Bank of British South Africa, founded in 1863.

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