HSBC (NYSE:HSBC) Lifted to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of HSBC (NYSE:HSBC) from an underweight rating to an equal weight rating in a report published on Tuesday, The Fly reports.

Other equities research analysts also recently issued reports about the stock. Berenberg Bank reiterated a hold rating on shares of HSBC in a research note on Friday, August 7th. Investec upgraded HSBC from a hold rating to a buy rating in a report on Wednesday, July 29th. Zacks Investment Research raised HSBC from a strong sell rating to a hold rating and set a $24.00 price objective on the stock in a report on Friday, July 31st. Barclays reissued an underweight rating on shares of HSBC in a research report on Tuesday, May 5th. Finally, Deutsche Bank reiterated a sell rating on shares of HSBC in a research note on Tuesday, August 4th. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $33.00.

Shares of NYSE HSBC traded down $0.13 during midday trading on Tuesday, hitting $22.21. The stock had a trading volume of 111,548 shares, compared to its average volume of 4,694,622. The firm has a market cap of $91.00 billion, a P/E ratio of -231.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.58. HSBC has a fifty-two week low of $20.98 and a fifty-two week high of $39.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.86 and a quick ratio of 0.94. The company’s 50-day simple moving average is $23.23 and its 200 day simple moving average is $27.47.

HSBC (NYSE:HSBC) last announced its earnings results on Monday, August 3rd. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.36). HSBC had a positive return on equity of 3.78% and a negative net margin of 1.05%. Equities analysts expect that HSBC will post 1.46 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Clarius Group LLC boosted its holdings in HSBC by 89.9% in the second quarter. Clarius Group LLC now owns 15,705 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 7,435 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of HSBC during the first quarter worth $367,000. Advisor Group Holdings Inc. acquired a new stake in shares of HSBC during the first quarter worth $1,101,000. Clearbridge Investments LLC raised its stake in HSBC by 4.2% during the first quarter. Clearbridge Investments LLC now owns 141,146 shares of the financial services provider’s stock worth $3,954,000 after buying an additional 5,731 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in HSBC by 5.4% in the first quarter. Guggenheim Capital LLC now owns 75,547 shares of the financial services provider’s stock valued at $2,116,000 after buying an additional 3,857 shares during the period. Institutional investors own 1.67% of the company’s stock.

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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