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

Societe Generale Group (OTCMKTS:SCGLY)’s share price gapped down prior to trading 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 changing hands.

A number of other research analysts also recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Societe Generale Group in a research report on Friday, December 12th. Royal Bank Of Canada restated a “sector perform” rating on shares of Societe Generale Group in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Societe Generale Group in a report on Friday, November 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Societe Generale Group in a research report on Monday, November 24th. Finally, The Goldman Sachs Group upgraded shares of Societe Generale Group from a “neutral” rating to a “buy” rating in a report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Societe Generale Group Trading Down 2.4%

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 50-day moving average is $14.59 and its 200 day moving average is $13.30. The firm has a market capitalization of $61.77 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 0.37 and a beta of 0.80.

Societe Generale Group (OTCMKTS:SCGLY) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.54 billion. Societe Generale Group had a net margin of 20.06% and a return on equity of 6.18%. As a group, analysts anticipate that Societe Generale Group will post 1.14 EPS for the current fiscal 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.