Societe Generale Group (OTCMKTS:SCGLY) Sees Large Volume Increase - Still a Buy?

Key Points

• Trading volume rose 58% to 974,388 shares, while Societe Generale’s stock traded at $16.485, below its previous close of $16.66.
• Analyst opinions are mixed: Citigroup and Deutsche Bank maintained “buy” ratings, while Keefe, Bruyette & Woods downgraded the stock to “moderate sell” and Goldman Sachs moved to “neutral.” MarketBeat’s overall rating is Hold.
• The bank exceeded quarterly expectations, reporting $0.50 EPS versus the $0.39 consensus estimate and revenue of $8.25 billion versus $8.03 billion expected.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) saw an uptick in trading volume on Wednesday . 974,388 shares changed hands during mid-day trading, an increase of 58% from the previous session's volume of 615,200 shares.The stock last traded at $16.4850 and had previously closed at $16.66.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup restated a "buy" rating on shares of Societe Generale Group in a research report on Tuesday. Keefe, Bruyette & Woods cut shares of Societe Generale Group from a "hold" rating to a "moderate sell" rating in a research report on Friday, August 21st. Kepler Capital Markets upgraded shares of Societe Generale Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. The Goldman Sachs Group cut Societe Generale Group from a "buy" rating to a "neutral" rating in a report on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Societe Generale Group in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Societe Generale Group Price Performance

The firm's 50-day moving average price is $17.73 and its 200-day moving average price is $16.77. The company has a current ratio of 1.20, a quick ratio of 1.21 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $61.99 billion, a PE ratio of 8.51, a PEG ratio of 0.51 and a beta of 0.77.

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

About Societe Generale Group

Societe Generale Group is a France-based international banking and financial services company founded in 1864. Headquartered in the Paris region, the group serves individuals, businesses, institutional investors and public-sector clients through a broad range of banking and financial products.

Its activities include French retail banking, international retail banking, private banking, corporate and investment banking, asset management, securities services, consumer finance, insurance and mobility-related financial services.

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