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Thursday, September 28, 2023

The Forecast Just Changed on HSBC Holdings plc (NYSE:HSBC)

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HSBC Holdings plc (HSBC) shares are trading at lower $27.32 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $26.71.

To add more color to this target, the company’s high over the last year is $39.37 and the low is $17.95. Over the last 52 weeks, HSBC is down -25.90% while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, HSBC reported a profit of $11.9 billion. HSBC Holdings plc also saw revenues increase to $6.45 billion. In addition, HSBC has free cash flow of $0.0 as of 09-2020.

HSBC booked profit margins of 10.50%, its Return on Equity (ROE) is 2.90%, and its Return on Assets is 0.20%. All told, it is clear that, HSBC needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. HSBC has a short ratio of 3.59 and outstanding shares of 4.07B.

Company Outlook

HSBC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.91 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.56. Investors should also keep an eye on sector updates as HSBC has historically followed its peers on positive news.

All told, HSBC Holdings plc HSBC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, HSBC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

HSBC Holdings plc HSBC is now commanding a market cap of 110.44B and a float of 4.06B. HSBC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of HSBC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in HSBC, either long or short, and we have not been compensated for this article.

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