Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Should You Sell?

Shares of Standard Chartered PLC (OTCMKTS:SCBFF) gapped down before the market opened on Tuesday . The stock had previously closed at $25.94, but opened at $24.36. Standard Chartered shares last traded at $24.36, with a volume of 4,788 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SCBFF shares. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Friday, May 1st. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a research report on Tuesday, April 14th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 4.7%

The business’s 50-day moving average price is $22.58 and its 200-day moving average price is $22.99. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $58.64 billion, a PE ratio of 12.58 and a beta of 0.68.

Standard Chartered (OTCMKTS:SCBFF) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. As a group, equities research analysts predict that Standard Chartered PLC will post 2.26 EPS for the current fiscal 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.