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Reality bites into HSBC forecasters

Reading Time:2 minutes
Why you can trust SCMP

Poor old HSBC. Everyone's glowering at it.

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Nobody likes a market dragger, and that bank is looking a bit like a drag king.

Warning bells were sounded even as the market sulked over lower than expected earnings per share (EPS).

Analysts really thought that number would be higher.

A consensus forecast put the EPS at HK$6.20.

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The reality was HK$5.40.

Broken down into major brokerages, the list of projections came in various shades of too-high.

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