The Goldman Sachs Group Downgrades Societe Generale Group (OTCMKTS:SCGLY) to Neutral

Key Points

• Goldman Sachs downgraded Societe Generale Group from “buy” to “neutral,” while analysts overall maintain an average “hold” rating. Other ratings range from “strong buy” to “moderate sell.”
• Societe Generale reported quarterly earnings of $0.50 per share, exceeding the $0.39 consensus estimate, while revenue of $8.25 billion also topped expectations.
• SCGLY opened at $16.76, with a market capitalization of $62.93 billion and a P/E ratio of 8.64; its shares have traded between $12.17 and $19.52 over the past year.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) was downgraded by investment analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a research report issued on Wednesday, Briefing.com reports.

A number of other brokerages have also issued reports on SCGLY. Citigroup reiterated a "buy" rating on shares of Societe Generale Group in a report on Monday, July 20th. Kepler Capital Markets upgraded Societe Generale Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods lowered shares of Societe Generale Group from a "hold" rating to a "moderate sell" rating in a research note on Friday, August 21st. Zacks Research raised Societe Generale Group from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Societe Generale Group in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold".

Societe Generale Group Price Performance

Shares of SCGLY stock opened at $16.76 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.20 and a debt-to-equity ratio of 2.10. The company has a market cap of $62.93 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.51 and a beta of 0.80. Societe Generale Group has a twelve month low of $12.17 and a twelve month high of $19.52. The business has a fifty day simple moving average of $17.83 and a 200 day simple moving average of $16.78.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.11. The company had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.03 billion. Societe Generale Group had a net margin of 23.30% and a return on equity of 7.20%. On average, sell-side analysts forecast that Societe Generale Group will post 1.82 EPS for the current fiscal year.

Societe Generale Group Company Profile

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.

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