Skandinaviska (OTCMKTS:SVKEF) Posts Earnings Results, Hits Estimates

Skandinaviska (OTCMKTS:SVKEF) released its quarterly earnings results on Thursday. The financial services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40, Zacks reports. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Skandinaviska had a net margin of 21.30% and a return on equity of 15.60%.

Skandinaviska Price Performance

Shares of SVKEF opened at $23.25 on Friday. The firm has a fifty day moving average price of $23.04 and a 200-day moving average price of $21.10. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.23. The firm has a market capitalization of $47.36 billion, a P/E ratio of 12.57 and a beta of 0.62. Skandinaviska has a 12-month low of $17.70 and a 12-month high of $23.67.

Analysts Set New Price Targets

SVKEF has been the topic of a number of recent analyst reports. Citigroup reissued a “neutral” rating on shares of Skandinaviska in a research report on Friday, October 9th. Keefe, Bruyette & Woods raised shares of Skandinaviska from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Skandinaviska in a research report on Monday, July 20th. Six investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Skandinaviska Company Profile

Skandinaviska Enskilda Banken AB, commonly known as SEB, is a Swedish financial services group serving corporate, institutional and private customers. The company provides banking and investment services, including lending, deposits, payments, cash management, trade finance, corporate finance, securities services, asset management and private banking.

SEB has a strong historical focus on supporting businesses and entrepreneurs. Its origins trace to Stockholms Enskilda Bank, founded in 1856, and Skandinaviska Banken; the two institutions merged in 1972 to form Skandinaviska Enskilda Banken.