Standard Chartered (OTCMKTS:SCBFF) Issues Earnings Results

Standard Chartered (OTCMKTS:SCBFF) announced its earnings results on Wednesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10, Zacks reports. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.63 billion. Standard Chartered had a return on equity of 11.35% and a net margin of 14.76%.

Standard Chartered Stock Performance

OTCMKTS:SCBFF remained flat at $28.37 during trading hours on Friday. 438 shares of the company’s stock were exchanged, compared to its average volume of 1,794. The stock has a market cap of $64.50 billion, a price-to-earnings ratio of 12.11 and a beta of 0.66. Standard Chartered has a fifty-two week low of $19.53 and a fifty-two week high of $31.98. The company’s 50 day simple moving average is $28.98 and its 200 day simple moving average is $26.19.

Wall Street Analysts Forecast Growth

SCBFF has been the subject of several analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Wednesday, September 23rd. Barclays upgraded Standard Chartered from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods raised Standard Chartered from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 14th. Morgan Stanley reiterated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, July 8th. Finally, UBS Group lowered shares of Standard Chartered from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Standard Chartered Company Profile

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.