Societe Generale Group (OTCMKTS:SCGLY) Shares Gap Down - What's Next?

Key Points

• Societe Generale shares gapped down from a prior close of $15.59 to open at $14.75, later trading around $14.71 on volume of 20,564 shares.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell; MarketBeat’s consensus rating is Hold.
• The bank exceeded quarterly expectations, reporting $0.50 in earnings per share versus a $0.39 estimate and revenue of $8.25 billion versus $8.03 billion expected.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report)'s share price gapped down prior to trading on Friday. The stock had previously closed at $15.59, but opened at $14.75. Societe Generale Group shares last traded at $14.71, with a volume of 20,564 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SCGLY shares. Citigroup restated a "buy" rating on shares of Societe Generale Group in a report on Tuesday, September 22nd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Societe Generale Group in a research report on Tuesday, September 22nd. Zacks Research raised shares of Societe Generale Group from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. The Goldman Sachs Group downgraded shares of Societe Generale Group from a "buy" rating to a "neutral" rating in a report on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Societe Generale Group in a research note on Wednesday, September 9th. One research 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 has an average rating of "Hold".

Societe Generale Group Stock Down 0.9%

The company has a market cap of $55.34 billion, a P/E ratio of 7.60, a PEG ratio of 0.46 and a beta of 0.80. The stock's 50-day moving average price is $17.54 and its 200-day moving average price is $16.80. The company has a current ratio of 1.20, a quick ratio of 1.21 and a debt-to-equity ratio of 2.10.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.03 billion. Societe Generale Group had a net margin of 23.30% and a return on equity of 7.20%. As a group, research analysts forecast that Societe Generale Group will post 1.84 EPS for the current year.

About Societe Generale Group

Societe Generale Group is a France-based international banking group that provides financial services to individuals, businesses, institutional investors and public-sector organizations. Its activities include retail banking, corporate and investment banking, private banking, asset management, insurance, consumer finance and specialized financial services.

In France, the group serves personal and business customers through Societe Generale's retail banking network and digital banking platform BoursoBank.

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