Societe Generale Group (OTCMKTS:SCGLY) Stock Passes Below 50-Day Moving Average - Here's Why

Key Points

• Societe Generale shares fell below their 50-day moving average, trading as low as $16.37 and closing at $16.61, compared with the $17.73 average.
• Analyst sentiment is mixed: Goldman Sachs downgraded the stock to “neutral” and Keefe, Bruyette & Woods to “moderate sell,” while other firms maintained Buy or Overweight ratings. MarketBeat’s consensus rating is “Hold.”
• The bank exceeded quarterly expectations, reporting $0.50 in earnings per share versus the $0.39 consensus and revenue of $8.25 billion versus $8.03 billion expected.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $17.73 and traded as low as $16.37. Societe Generale Group shares last traded at $16.61, with a volume of 1,017,333 shares.

Wall Street Analyst Weigh In

SCGLY has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Societe Generale Group from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 2nd. Citigroup reiterated a "buy" rating on shares of Societe Generale Group in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Societe Generale Group in a research report on Wednesday, September 9th. Keefe, Bruyette & Woods downgraded Societe Generale Group from a "hold" rating to a "moderate sell" rating in a research report on Friday, August 21st. Finally, Morgan Stanley restated an "overweight" rating on shares of Societe Generale Group in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold".

Societe Generale Group Stock Performance

The stock has a 50-day simple moving average of $17.73 and a 200-day simple moving average of $16.77. The company has a market capitalization of $62.36 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.51 and a beta of 0.77. The company has a current ratio of 1.20, a quick ratio of 1.21 and a debt-to-equity ratio of 2.10.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The business had revenue of $8.25 billion during 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, analysts anticipate that Societe Generale Group will post 1.82 earnings per share for the current 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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