HSBC (NYSE:HSBC) Earns Buy Rating from Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of HSBC (NYSE:HSBCGet Free Report) in a research note issued on Thursday. The firm set a “buy” rating on the financial services provider’s stock.

Several other research firms also recently weighed in on HSBC. Citigroup restated a “buy” rating on shares of HSBC in a report on Friday, January 9th. Morgan Stanley initiated coverage on shares of HSBC in a report on Wednesday, January 14th. They issued an “equal weight” rating on the stock. Keefe, Bruyette & Woods raised shares of HSBC from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, December 17th. Bank of America upgraded HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. Finally, Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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HSBC Price Performance

HSBC traded down $0.51 during trading on Thursday, reaching $80.71. 278,242 shares of the stock were exchanged, compared to its average volume of 2,284,308. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $277.24 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 0.82 and a beta of 0.50. HSBC has a 1 year low of $45.66 and a 1 year high of $94.79. The business’s 50 day moving average price is $85.68 and its two-hundred day moving average price is $76.89.

HSBC (NYSE:HSBCGet Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.25. HSBC had a return on equity of 13.10% and a net margin of 16.07%.The business had revenue of $17.72 billion during the quarter, compared to analysts’ expectations of $17.01 billion. As a group, equities research analysts anticipate that HSBC will post 6.66 earnings per share for the current year.

Hedge Funds Weigh In On HSBC

Several institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in shares of HSBC by 30.7% in the 4th quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 117 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its holdings in shares of HSBC by 1.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock worth $979,000 after buying an additional 123 shares during the last quarter. Ellevest Inc. raised its position in shares of HSBC by 0.7% in the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 131 shares during the period. Federation des caisses Desjardins du Quebec boosted its holdings in HSBC by 5.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 133 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in HSBC by 0.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 26,554 shares of the financial services provider’s stock valued at $2,089,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Key HSBC News

Here are the key news stories impacting HSBC this week:

HSBC Company Profile

(Get Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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