Brokerages Set HSBC Holdings plc (NYSE:HSBC) PT at $40.59

HSBC Holdings plc (NYSE:HSBC) has been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $40.59.

HSBC has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded HSBC from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research report on Tuesday, October 15th. Bank of America raised HSBC from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley cut HSBC from an “equal” rating to an “equal weight” rating in a report on Wednesday, October 9th. Finally, Goldman Sachs Group restated a “buy” rating on shares of HSBC in a report on Monday, December 16th.

NYSE:HSBC traded up $0.26 during trading hours on Friday, reaching $38.61. The company had a trading volume of 72,165 shares, compared to its average volume of 1,480,137. The stock has a 50-day moving average of $38.16 and a two-hundred day moving average of $38.43. HSBC has a one year low of $35.35 and a one year high of $44.93. The firm has a market capitalization of $155.42 billion, a PE ratio of 12.25, a PEG ratio of 7.45 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.40). The firm had revenue of $13.27 billion for the quarter, compared to the consensus estimate of $14.09 billion. HSBC had a net margin of 23.48% and a return on equity of 6.65%. As a group, sell-side analysts expect that HSBC will post 3.58 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its position in shares of HSBC by 290.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 275,983 shares of the financial services provider’s stock worth $11,520,000 after buying an additional 205,279 shares during the period. Millennium Management LLC boosted its stake in HSBC by 123.6% in the third quarter. Millennium Management LLC now owns 265,014 shares of the financial services provider’s stock valued at $10,142,000 after acquiring an additional 1,386,214 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in HSBC by 9.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 242,180 shares of the financial services provider’s stock worth $9,268,000 after acquiring an additional 21,592 shares during the period. Cowen Investment Management LLC acquired a new stake in HSBC during the 3rd quarter worth $6,884,000. Finally, SG Americas Securities LLC grew its holdings in HSBC by 183.0% during the 3rd quarter. SG Americas Securities LLC now owns 171,933 shares of the financial services provider’s stock worth $6,580,000 after acquiring an additional 111,172 shares during the period. 2.24% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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