HSBC (NYSE:HSBC) Sets New 1-Year Low at $20.27

HSBC Holdings plc (NYSE:HSBC) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $20.27 and last traded at $20.30, with a volume of 37381 shares changing hands. The stock had previously closed at $20.71.

A number of analysts have issued reports on HSBC shares. Investec upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research note on Friday, July 10th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of HSBC in a research note on Monday, July 27th. Zacks Investment Research upgraded shares of HSBC from a “strong sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research note on Friday, July 31st. Finally, Jefferies Financial Group lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. HSBC presently has an average rating of “Hold” and an average price target of $33.00.

The company has a 50-day simple moving average of $21.80 and a 200-day simple moving average of $24.94. The stock has a market cap of $84.36 billion, a PE ratio of -207.08, a PEG ratio of 1.13 and a beta of 0.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.86 and a quick ratio of 0.94.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Monday, August 3rd. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.36). HSBC had a negative net margin of 1.05% and a positive return on equity of 3.78%. The company had revenue of $13.15 billion for the quarter, compared to analyst estimates of $12.91 billion. On average, equities analysts expect that HSBC Holdings plc will post 1.34 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Clarius Group LLC raised its holdings in shares of HSBC by 89.9% in the 2nd quarter. Clarius Group LLC now owns 15,705 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 7,435 shares during the period. Tudor Investment Corp Et Al purchased a new position in shares of HSBC in the 1st quarter worth about $367,000. Advisor Group Holdings Inc. purchased a new position in shares of HSBC in the 1st quarter worth about $1,101,000. Clearbridge Investments LLC raised its holdings in shares of HSBC by 4.2% in the 1st quarter. Clearbridge Investments LLC now owns 141,146 shares of the financial services provider’s stock worth $3,954,000 after purchasing an additional 5,731 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in shares of HSBC by 5.4% in the 1st quarter. Guggenheim Capital LLC now owns 75,547 shares of the financial services provider’s stock worth $2,116,000 after purchasing an additional 3,857 shares during the period. 1.58% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Company Profile (NYSE: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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