HSBC Holdings plc’s “Neutral” Rating Reaffirmed at Zacks (HSBC)
HSBC Holdings plc (NASDAQ:HSBC)‘s stock had its “neutral” rating reissued by Zacks in a note issued to investors on Wednesday. They currently have a $57.00 price objective on the stock. Zacks‘s price target would indicate a potential upside of 5.83% from the stock’s previous close.
Zacks’ analyst wrote, “HSBC reported dismal first-half 2014 results owing to a decline in revenues, partially offset by lower operating expenses and a fall in loan impairment charges. Top line was adversely impacted by subdued growth in Retail Banking and Wealth Management, and Global Banking and Markets segments. Moreover, sluggish revenue growth in the mature markets, dismal European economy, lower loan demand, higher litigation costs and stringent regulations remain the near-term concerns. Nevertheless, the company’s restructuring initiatives have started bearing fruits as evident by downward trends in operating expenses. Further, diversified revenue sources and a strong capital position will continue to aid bottom-line growth.”
HSBC Holdings plc (NASDAQ:HSBC) traded down 0.13% on Wednesday, hitting $53.29. The stock had a trading volume of 506,716 shares. HSBC Holdings plc has a one year low of $48.86 and a one year high of $56.96. The stock has a 50-day moving average of $52.43 and a 200-day moving average of $51.89. The company has a market cap of $196.0 billion and a price-to-earnings ratio of 13.31.
HSBC Holdings plc (NASDAQ:HSBC) last announced its earnings results on Monday, August 4th. The company reported $1.15 earnings per share for the quarter. Analysts expect that HSBC Holdings plc will post $0.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 9th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Wednesday, August 20th.
HSBC Holdings plc (NASDAQ:HSBC) is a global banking and financial services organizations.
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