Societe Generale Group (OTCMKTS:SCGLY) Shares Gap Down – Here’s What Happened

Societe Generale Group (OTCMKTS:SCGLY) shares gapped down prior to trading on Thursday . The stock had previously closed at $17.35, but opened at $16.72. Societe Generale Group shares last traded at $16.6940, with a volume of 99,835 shares changing hands.

Analysts Set New Price Targets

SCGLY has been the subject of several research analyst reports. Citigroup reissued a “buy” rating on shares of Societe Generale Group in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Societe Generale Group in a research note on Wednesday, July 15th. Zacks Research upgraded Societe Generale Group from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Societe Generale upgraded shares of Societe Generale Group from a “market perform” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Keefe, Bruyette & Woods lowered shares of Societe Generale Group from a “hold” rating to a “moderate sell” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Societe Generale Group Trading Down 5.3%

The stock has a market capitalization of $61.69 billion, a P/E ratio of 8.47, a P/E/G ratio of 0.53 and a beta of 0.80. The firm’s 50 day simple moving average is $17.92 and its two-hundred day simple moving average is $16.80. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.06.

Societe Generale Group (OTCMKTS:SCGLY) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. Societe Generale Group had a return on equity of 7.29% and a net margin of 23.30%.The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.03 billion. As a group, analysts forecast that Societe Generale Group will post 1.82 earnings per share for the current fiscal year.

Societe Generale Group Company Profile

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.