Goldman Sachs Group Reiterates Buy Rating for HSBC (NYSE:HSBC)

HSBC (NYSE:HSBC)‘s stock had its “buy” rating reissued by stock analysts at Goldman Sachs Group in a note issued to investors on Monday, Borsen Zeitung reports.

A number of other equities research analysts have also weighed in on HSBC. Berenberg Bank lowered HSBC from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered HSBC from an “equal” rating to a “weight” rating in a research report on Wednesday, October 9th. Jefferies Financial Group raised HSBC from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. ValuEngine upgraded HSBC from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, UBS Group reissued a “neutral” rating on shares of HSBC in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.80.

NYSE:HSBC opened at $36.87 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $37.85 and a two-hundred day moving average of $39.00. The stock has a market cap of $149.40 billion, a P/E ratio of 11.70, a PEG ratio of 7.14 and a beta of 0.71. HSBC has a 1-year low of $35.35 and a 1-year high of $44.93.

HSBC (NYSE:HSBC) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.40). HSBC had a return on equity of 6.65% and a net margin of 23.48%. The business had revenue of $13.27 billion for the quarter, compared to analysts’ expectations of $14.09 billion. As a group, equities analysts expect that HSBC will post 3.61 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Berman Capital Advisors LLC increased its holdings in shares of HSBC by 60.4% in the 2nd quarter. Berman Capital Advisors LLC now owns 805 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 303 shares during the period. Northwest Investment Counselors LLC acquired a new stake in HSBC in the third quarter worth approximately $38,000. Coastal Investment Advisors Inc. bought a new position in HSBC during the 2nd quarter valued at $40,000. SRS Capital Advisors Inc. bought a new position in HSBC during the 2nd quarter valued at $41,000. Finally, Capital Investment Advisory Services LLC boosted its stake in HSBC by 160.0% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,097 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 675 shares in the last quarter. Institutional investors own 2.24% of the company’s stock.

About HSBC

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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