Credit Agricole (OTCMKTS:CRARY) Shares Gap Down - Here's Why

Key Points

• Credit Agricole's shares experienced a significant drop, opening at $9.55 after closing at $9.92, with the latest trade at $9.51 and a trading volume of 6,076 shares.
• Analysts from Keefe, Bruyette & Woods downgraded the stock from a "hold" to a "moderate sell" rating, indicating a more pessimistic outlook.
• Despite the recent downturn, the company reported quarterly earnings of $0.42 per share, surpassing analysts' expectations of $0.36 and showcasing a net margin of 26.77% and return on equity of 27.20%.

Credit Agricole SA (OTCMKTS:CRARY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $9.92, but opened at $9.55. Credit Agricole shares last traded at $9.51, with a volume of 6,076 shares.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods downgraded shares of Credit Agricole from a "hold" rating to a "moderate sell" rating in a research note on Thursday, August 21st.

Credit Agricole Price Performance

The firm has a fifty day simple moving average of $9.57 and a 200-day simple moving average of $9.35. The firm has a market cap of $58.17 billion, a P/E ratio of 7.57 and a beta of 1.01.

Credit Agricole (OTCMKTS:CRARY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. Credit Agricole had a net margin of 26.77% and a return on equity of 27.20%.

About Credit Agricole

Crédit Agricole SA provides retail, corporate, insurance, and investment banking products and services in France and internationally. It operates through French Retail Banking Regional Banks; French Retail Banking - LCL; International Retail Banking; Asset Gathering; Large Customers; and Specialised Financial Services segments.

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