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

Societe Generale Group (OTCMKTS:SCGLY) gapped down before the market opened on Friday . The stock had previously closed at $16.76, but opened at $15.85. Societe Generale Group shares last traded at $15.70, with a volume of 38,548 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on SCGLY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Societe Generale Group in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Societe Generale Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Societe Generale Group in a research note on Monday. Kepler Capital Markets cut shares of Societe Generale Group from a “buy” rating to a “reduce” rating in a research report on Friday, January 9th. Finally, Morgan Stanley restated an “overweight” rating on shares of Societe Generale Group in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Societe Generale Group Trading Down 4.9%

The company has a fifty day moving average of $16.39 and a two-hundred day moving average of $14.23. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.40. The stock has a market capitalization of $61.10 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.60 and a beta of 0.78.

Societe Generale Group (OTCMKTS:SCGLY) last announced its quarterly earnings data on Friday, February 6th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Societe Generale Group had a net margin of 22.01% and a return on equity of 6.74%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.77 billion. On average, research analysts expect 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.