Standard Chartered (OTCMKTS:SCBFF) Reaches New 12-Month High After Earnings Beat

Standard Chartered PLC (OTCMKTS:SCBFF)’s share price reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $30.00 and last traded at $30.00, with a volume of 281 shares trading hands. The stock had previously closed at $28.00.

The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Standard Chartered in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft raised Standard Chartered from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, May 6th. BNP Paribas Exane upgraded shares of Standard Chartered to an “outperform” rating in a research note on Tuesday, April 14th. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Standard Chartered has an average rating of “Moderate Buy”.

Standard Chartered Price Performance

The firm has a 50-day simple moving average of $26.90 and a 200-day simple moving average of $24.76. The firm has a market capitalization of $68.20 billion, a PE ratio of 14.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.82 and a quick ratio of 0.82.

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.