Standard Chartered (OTCMKTS:SCBFF) Hits New 52-Week High – Here’s What Happened

Standard Chartered PLC (OTCMKTS:SCBFF)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $25.6090 and last traded at $24.8050, with a volume of 6862 shares traded. The stock had previously closed at $25.2256.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, January 14th. Zacks Research downgraded 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 raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Finally, Citigroup reiterated a “neutral” rating on shares of Standard Chartered in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The business’s fifty day simple moving average is $23.60 and its 200 day simple moving average is $20.65. The stock has a market cap of $57.73 billion, a price-to-earnings ratio of 13.51 and a beta of 0.53.

Standard Chartered (OTCMKTS:SCBFF) last issued its earnings results on Thursday, October 30th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Standard Chartered had a net margin of 12.84% and a return on equity of 10.88%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.97 billion. As a group, equities analysts forecast that Standard Chartered PLC will post 1.66 EPS 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.