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HSBC Holdings plc (NYSE: HSBC) Is Up 17.75% Year-To-Date, Analysts Forecast Major Price Rally

HSBC Holdings plc (NYSE:HSBC) traded at $36.90 at last check on Tuesday, 01/24/23, made an upward move of 0.59% on its previous day’s price.

Looking at the stock we see that its previous close was $36.69 and the beta (5Y monthly) reads 0.58 with the day’s price range being $36.41 – $36.79. The company has a trailing 12-month PE ratio of 12.12. In terms of its 52-week price range, HSBC has a high of $38.61 and a low of $24.77. The company’s stock has gained about 18.93% over that past 30 days.

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HSBC Holdings plc has a market cap of $144.26 billion. With its Forward Dividend at 1.35 and a yield of 3.68%, the company’s investors could be anxious for the HSBC stock to gain ahead of the earnings release.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the HSBC stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 5 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the HSBC Holdings plc (HSBC) stock as a Hold, while 4 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the HSBC stock currently stands at 0.58, and the most recent price level today is 8.27% off its SMA20 and 17.28% from its 50-day simple moving average. The RSI (14) is pointing at 85.48 while the volatility over the past week is 1.14% and jumps to 1.08% over the past one month. The beta value is 0.60, while the average true range (ATR) is currently pointing at 0.51. The average price target for the stock over the next 12 months is $43.37, with the estimates having a low of $43.37 and a high of $43.37. These price ends are -17.53% and -17.53% off the today’s price level respectively, although investors could be excited at the prospect of a -17.53% if the HSBC share price touches on the median price of $43.37.

Let’s briefly compare HSBC Holdings plc (HSBC) stock to its peers. We find that today’s price change of 0.59% and 8.33% over the past 12 months for HSBC competes that of Bank of America Corporation (BAC), which has seen its stock price fall -0.55% in the latest trading session and is -23.04% over the last one year. Another of its peers The Toronto-Dominion Bank (TD) has dropped -0.64% today, and was -15.67% down over the past year, while Banco Santander S.A. (SAN) is also up 0.07% yet, while its price remains in the red at -3.76% over the same period. HSBC Holdings plc has a P/E ratio of 12.12 compared to Bank of America Corporation’s 10.86 and The Toronto-Dominion Bank’s 9.55. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.45% and -1.08%, respectively, in early deals.

Coming back to HSBC Holdings plc (NYSE:HSBC), we note that the average 3-month trading volume was 2.42 million, while that of the preceding 10-day period stands at 2.2 million. Current shares outstanding are 3.83 billion.

The insiders hold 0.30% of the company’s shares while institutions hold 1.40%. The data shows that short shares as of Dec 29, 2022, stood at 8.59 million at a short ratio of 4.37. This represents a 0.21% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 9.05 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 17.75% up in year-to-date price movement.

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