Standard Chartered (OTCMKTS:SCBFF) Sets New 52-Week High – Still a Buy?

Standard Chartered PLC (OTCMKTS:SCBFF) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.7669 and last traded at $26.7669, with a volume of 2566 shares changing hands. The stock had previously closed at $26.00.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SCBFF shares. BNP Paribas Exane raised shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods raised shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 0.7%

The firm’s 50-day moving average price is $23.31 and its 200-day moving average price is $23.38. The company has a market cap of $60.02 billion, a price-to-earnings ratio of 12.88 and a beta of 0.68. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82.

Standard Chartered (OTCMKTS:SCBFF) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.58 billion. Sell-side analysts forecast that Standard Chartered PLC will post 2.26 earnings per share 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.