Skandinaviska (OTCMKTS:SVKEF) Issues Earnings Results

Skandinaviska (OTCMKTS:SVKEF) released its quarterly earnings results on Wednesday. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07, Zacks reports. Skandinaviska had a net margin of 21.30% and a return on equity of 15.76%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.97 billion.

Skandinaviska Price Performance

Shares of OTCMKTS:SVKEF opened at $20.88 on Friday. Skandinaviska has a 52-week low of $17.29 and a 52-week high of $22.53. The stock has a market cap of $42.53 billion, a price-to-earnings ratio of 11.29 and a beta of 0.56. The business has a 50-day moving average price of $19.88 and a 200-day moving average price of $20.49.

Analysts Set New Price Targets

Several brokerages have weighed in on SVKEF. Barclays downgraded shares of Skandinaviska from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Jefferies Financial Group restated a “hold” rating on shares of Skandinaviska in a research note on Wednesday, April 8th. Citigroup reaffirmed a “neutral” rating on shares of Skandinaviska in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Skandinaviska in a report on Monday, April 13th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

About Skandinaviska

Skandinaviska Enskilda Banken AB (publ) provides corporate, retail, investment, and private banking services. The company operates through Large Corporates & Financial Institutions, Corporate & Private Customers, Private Wealth Management & Family Office, Baltic, Life, and Investment Management divisions. It offers treasury advisory services; factoring and receivable, trade, and export financing; markets and trading, such as equities, fixed income, commodities, and foreign exchange; financial services, including investment, financing, and ownership; and shipping and real estate finance.