Societe Generale Group (OTCMKTS:SCGLY) Shares Gap Down on Analyst Downgrade

Societe Generale Group (OTCMKTS:SCGLY) shares gapped down before the market opened on Friday after Kepler Capital Markets downgraded the stock from a buy rating to a reduce rating. The stock had previously closed at $16.50, but opened at $16.05. Societe Generale Group shares last traded at $16.11, with a volume of 612,684 shares traded.

SCGLY has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Societe Generale Group in a research report on Friday, November 14th. Citigroup reaffirmed a “buy” rating on shares of Societe Generale Group in a report on Friday, December 12th. Zacks Research raised shares of Societe Generale Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Morgan Stanley restated an “overweight” rating on shares of Societe Generale Group in a research report on Monday, November 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Societe Generale Group in a research note on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Societe Generale Group presently has a consensus rating of “Moderate Buy”.

Societe Generale Group Price Performance

The company has a debt-to-equity ratio of 3.40, a current ratio of 1.27 and a quick ratio of 1.27. The business’s fifty day simple moving average is $14.66 and its 200 day simple moving average is $13.35. The firm has a market capitalization of $62.35 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.38 and a beta of 0.80.

Societe Generale Group (OTCMKTS:SCGLY) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Societe Generale Group had a net margin of 20.06% and a return on equity of 6.18%. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.54 billion. On average, research analysts forecast that Societe Generale Group will post 1.14 EPS for the current year.

About Societe Generale Group

Société Générale Group, founded in 1864 and headquartered in Paris, is one of France’s largest banking groups. It offers a broad range of financial services to individuals, businesses, institutions and governments. The firm operates through multiple businesses that collectively provide banking, financing, investment and advisory solutions across retail, corporate and institutional client segments.

The group’s core activities encompass retail banking services such as deposit accounts, consumer and mortgage lending, payment services and wealth management.