Zacks Investment Research Upgrades Societe Generale (OTCMKTS:SCGLY) to Hold

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Societe Generale (OTCMKTS:SCGLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “

A number of other brokerages also recently weighed in on SCGLY. Citigroup upgraded Societe Generale from a “neutral” rating to a “buy” rating in a report on Friday, August 2nd. BNP Paribas reiterated a “buy” rating on shares of Societe Generale in a report on Thursday, July 11th. JPMorgan Chase & Co. upgraded Societe Generale from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 17th. ValuEngine upgraded Societe Generale from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group downgraded Societe Generale from a “buy” rating to a “neutral” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.50.

OTCMKTS:SCGLY traded down $0.04 during midday trading on Friday, reaching $6.26. 134,837 shares of the company traded hands, compared to its average volume of 427,915. The company has a fifty day moving average price of $5.65 and a 200 day moving average price of $5.38. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 5.40 and a beta of 1.09. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.42 and a quick ratio of 1.42. Societe Generale has a twelve month low of $4.68 and a twelve month high of $7.64.

About Societe Generale

Société Générale Société anonyme provides financial services in Europe and internationally. Its primary businesses include French retail banking; international retail banking, insurance, and financial services; and global banking and investor solutions. The company offers retail banking services to individual customers, professionals, and businesses and non-profit clients under the Societe Generale, Crédit du Nord, and Boursorama Banque brands; and international retail banking and consumer credit services to individual and corporate customers in Europe, Russia, the Mediterranean Basin, and Sub-Saharan Africa.

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Analyst Recommendations for Societe Generale (OTCMKTS:SCGLY)

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