Societe Generale Group (OTCMKTS:SCGLY) Sets New 52-Week High Following Better-Than-Expected Earnings

Societe Generale Group (OTCMKTS:SCGLY) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $18.73 and last traded at $18.71, with a volume of 32845 shares. The stock had previously closed at $17.49.

The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. Societe Generale Group had a return on equity of 6.92% and a net margin of 22.33%.

Analyst Upgrades and Downgrades

SCGLY has been the topic of a number of research reports. Kepler Capital Markets upgraded shares of Societe Generale Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Societe Generale Group in a research report on Wednesday, July 15th. Citigroup reiterated a “buy” rating on shares of Societe Generale Group in a research report on Monday, July 20th. Societe Generale raised Societe Generale Group from a “market perform” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Zacks Research upgraded Societe Generale Group from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Societe Generale Group Stock Up 7.3%

The firm’s 50-day simple moving average is $17.07 and its 200 day simple moving average is $16.56. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $69.86 billion, a P/E ratio of 10.43, a PEG ratio of 0.58 and a beta of 0.80.

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.