The trading price of HSBC Holdings plc (NYSE:HSBC) floating lower at last check on Wednesday, May 24, closing at $37.19, -2.53% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $38.145 and $38.54. The companyâ€™s P/E ratio in the trailing 12-month period was 6.81, while its 5Y monthly beta was 0.59. In examining the 52-week price action we see that the stock hit a 52-week high of $39.63 and a 52-week low of $24.77. Over the past month, the stock has gained 6.48% in value.
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HSBC Holdings plc, whose market valuation is $151.19 billion at the time of this writing. The dividend yield on the company stock is 5.50%, while its Forward Dividend ratio is 2.10. Investors’ optimism about the companyâ€™s current quarter earnings report is understandable.
A companyâ€™s earnings reviews provide a brief indication of a stockâ€™s direction in the short term, where in the case of HSBC Holdings plc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest HSBC has a 50% Buy on average for the short term. According to the data of the stockâ€™s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned HSBC a recommendation rating is 6. Out of them, 0 rate it a Hold, while 4 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged HSBC Holdings plc (HSBC) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the companyâ€™s shares.
If we dig deeper into the stockâ€™s outlook, we see that the stockâ€™s PEG is 0.32, which symbolizes a positive outlook. A quick review shows that HSBCâ€™s price is currently -0.78% off the SMA20 and 3.86% off the SMA50. The RSI metric on the 14-day chart is currently showing 49.79, and weekly volatility stands at 0.99%. When measured over the past 30 days, the indicator reaches 1.33%. HSBC Holdings plc (NYSE:HSBC)â€™s beta value is currently sitting at 0.59, while the Average True Range indicator is currently displaying 0.66. With analysts defining $49.98-$49.98 as the low and high price targets, we arrive at a consensus price target of $49.98 for the trailing 12-month period. The current price is about -34.39% off the estimated low and -34.39% off the forecast high, based on this estimate. Investors will be thrilled if HSBCâ€™s share price rises to $49.98, which is the median consensus price. At that level, HSBCâ€™s share price would be -34.39% below current price.
To see how HSBC Holdings plc stock has been performing today in comparison to its peers in the industry, here are the numbers: HSBC stockâ€™s performance was -2.53% at last check in today’s session, and 18.46% in the past year, while Bank of America Corporation (BAC) has been trading -1.94% in recent session and positioned -21.87% lower than it was a year ago. Another comparable company The Toronto-Dominion Bank (TD) saw its stock trading -1.95% lower in today’s session but was down -17.79% in a year. Furthermore, Banco Santander S.A. (SAN) showed a decrease of -2.62% today while its price kept inclining at 10.60% over the past year. HSBC Holdings plc has a P/E ratio of 6.81, compared to Bank of America Corporationâ€™s 8.62 and The Toronto-Dominion Bankâ€™s 10.00. Also during today’s trading, the S&P 500 Index has plunged -0.75%, while the Dow Jones Industrial also saw a negative session, down -0.63% today.
An evaluation of the daily trading volume of HSBC Holdings plc (NYSE:HSBC) indicates that the 3-month average is 2.34 million. However, this figure has increased over the past 10 days to an average of 1.41 million.
Currently, records show that 3.99 billion of the companyâ€™s shares remain outstanding. The insiders hold 0.30% of outstanding shares, whereas institutions hold 1.40%. The stats also highlight that short interest as of Apr 27, 2023, stood at 9.0 million shares, resulting in a short ratio of 5.15 at that time. From this, we can conclude that short interest is 0.23% of the companyâ€™s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous monthâ€™s figure, which was 8.94 million. However, since the stockâ€™s price has seen 19.37% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.