HSBC (NYSE:HSBC) Raised to “Buy” at Investec

HSBC (NYSE:HSBCGet Rating) was upgraded by equities researchers at Investec from a “hold” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

Other equities analysts have also issued reports about the company. StockNews.com began coverage on HSBC in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 540 ($6.55) to GBX 550 ($6.68) in a research report on Thursday, May 19th. Royal Bank of Canada boosted their price target on HSBC from GBX 550 ($6.68) to GBX 590 ($7.16) in a research report on Friday, May 6th. Barclays boosted their price target on HSBC from GBX 725 ($8.80) to GBX 735 ($8.92) in a research report on Wednesday, April 20th. Finally, Berenberg Bank boosted their price target on HSBC from GBX 470 ($5.70) to GBX 560 ($6.80) in a research report on Tuesday, March 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, HSBC currently has an average rating of “Buy” and an average price target of $591.67.

Shares of NYSE:HSBC opened at $31.14 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.95. HSBC has a 1 year low of $24.31 and a 1 year high of $38.61. The stock has a market capitalization of $127.24 billion, a P/E ratio of 10.93, a PEG ratio of 0.54 and a beta of 0.58. The stock has a 50-day simple moving average of $32.35 and a 200-day simple moving average of $32.82.

HSBC (NYSE:HSBCGet Rating) last issued its earnings results on Tuesday, April 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). HSBC had a return on equity of 5.59% and a net margin of 23.52%. The firm had revenue of $12.55 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Analysts predict that HSBC will post 3.16 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in HSBC by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,833,179 shares of the financial services provider’s stock worth $336,492,000 after buying an additional 330,792 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in HSBC by 62.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,738,851 shares of the financial services provider’s stock worth $127,944,000 after buying an additional 1,443,765 shares during the last quarter. JPMorgan Chase & Co. grew its stake in HSBC by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,374,145 shares of the financial services provider’s stock worth $101,730,000 after buying an additional 124,185 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in HSBC by 26.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 3,201,774 shares of the financial services provider’s stock worth $96,533,000 after buying an additional 670,107 shares during the last quarter. Finally, Norges Bank bought a new position in HSBC during the 4th quarter worth $71,576,000. 1.14% of the stock is currently owned by institutional investors and hedge funds.

About HSBC (Get Rating)

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.

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