Societe Generale Group (OTCMKTS:SCGLY) Sees Large Decline in Short Interest

Societe Generale Group (OTCMKTS:SCGLY) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 59,472 shares, a drop of 64.6% from the June 15th total of 167,991 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 960,850 shares, the days-to-cover ratio is currently 0.1 days.

Societe Generale Group Stock Performance

OTCMKTS:SCGLY opened at $17.14 on Wednesday. The firm’s 50-day moving average is $16.72 and its 200-day moving average is $16.47. Societe Generale Group has a 52-week low of $11.36 and a 52-week high of $18.30. 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 $63.79 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.56 and a beta of 0.80.

Societe Generale Group (OTCMKTS:SCGLY) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Societe Generale Group had a net margin of 22.33% and a return on equity of 6.92%. Equities research analysts anticipate that Societe Generale Group will post 1.7 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on SCGLY. Societe Generale raised shares of Societe Generale Group from a “market perform” rating to a “hold” rating in a research report on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Societe Generale Group in a report on Tuesday, June 9th. Kepler Capital Markets raised 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 report on Tuesday, May 26th. Finally, Zacks Research upgraded Societe Generale Group from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. One equities 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.