Zacks: Analysts Anticipate HSBC Holdings plc (NYSE:HSBC) Will Post Quarterly Sales of $13.21 Billion

Posted by on May 26th, 2022

Equities analysts forecast that HSBC Holdings plc (NYSE:HSBC – Get Rating) will announce sales of $13.21 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for HSBC’s earnings, with estimates ranging from $12.82 billion to $13.59 billion. HSBC posted sales of $12.52 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that HSBC will report full-year sales of $52.23 billion for the current fiscal year, with estimates ranging from $52.14 billion to $52.33 billion. For the next financial year, analysts anticipate that the business will report sales of $56.39 billion, with estimates ranging from $55.56 billion to $57.22 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for HSBC.

HSBC (NYSE:HSBC – Get Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.45). The company had revenue of $12.09 billion for the quarter, compared to analyst estimates of $12.09 billion. HSBC had a return on equity of 5.59% and a net margin of 23.52%.

A number of brokerages have recently commented on HSBC. JPMorgan Chase & Co. upped their price target on HSBC from GBX 540 ($6.80) to GBX 550 ($6.92) in a research note on Thursday, May 19th. Barclays boosted their price objective on HSBC from GBX 725 ($9.12) to GBX 735 ($9.25) in a research report on Wednesday, April 20th. Credit Suisse Group boosted their price objective on HSBC from GBX 515 ($6.48) to GBX 525 ($6.61) in a research report on Thursday, May 5th. Exane BNP Paribas raised HSBC from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 27th. Finally, Royal Bank of Canada upped their price target on HSBC from GBX 550 ($6.92) to GBX 590 ($7.42) in a research report on Friday, May 6th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $511.43.

Several hedge funds and other institutional investors have recently modified their holdings of HSBC. Ancora Advisors LLC bought a new position in HSBC in the third quarter valued at about $26,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of HSBC by 482.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 903 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 748 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of HSBC by 229.1% during the first quarter. EverSource Wealth Advisors LLC now owns 826 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 575 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of HSBC by 352.4% during the first quarter. JFS Wealth Advisors LLC now owns 1,054 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 821 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in HSBC by 37.5% in the fourth quarter. Fifth Third Bancorp now owns 1,433 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 391 shares during the last quarter. Institutional investors own 1.14% of the company’s stock.

Shares of NYSE:HSBC opened at $32.82 on Thursday. The stock has a market capitalization of $132.10 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.54 and a beta of 0.59. HSBC has a 1-year low of $24.31 and a 1-year high of $38.61. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $32.73 and a two-hundred day moving average price of $32.46.

About HSBC (Get Rating)

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.

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