HSBC Holdings plc (NYSE:HSBC) Receives $63.00 Consensus PT from Analysts

Shares of HSBC Holdings plc (NYSE:HSBC) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $63.00.

HSBC has been the topic of a number of research analyst reports. Barclays raised shares of HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of HSBC in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th.

Institutional Trading of HSBC

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in HSBC by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after purchasing an additional 53,072 shares during the last quarter. FMR LLC raised its stake in HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider’s stock valued at $142,605,000 after purchasing an additional 441,033 shares during the last quarter. Northern Trust Corp raised its stake in HSBC by 3.3% during the 1st quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock valued at $165,002,000 after purchasing an additional 91,789 shares during the last quarter. Contrarian Capital Management L.L.C. raised its stake in shares of HSBC by 425.4% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock valued at $72,687,000 after buying an additional 1,024,780 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of HSBC by 18.7% in the 1st quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock valued at $60,155,000 after buying an additional 164,915 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Stock Down 1.3%

HSBC stock opened at $58.41 on Wednesday. HSBC has a 52-week low of $39.42 and a 52-week high of $61.88. The company’s 50 day simple moving average is $57.52 and its 200-day simple moving average is $54.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $205.38 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.86 and a beta of 0.58.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.35. HSBC had a net margin of 14.55% and a return on equity of 12.55%. The firm had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $16.60 billion. As a group, equities research analysts anticipate that HSBC will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, May 12th were given a $0.495 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend was Friday, May 9th. HSBC’s dividend payout ratio is 36.33%.

HSBC Company Profile

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.