Short Interest in Societe Generale Group (OTCMKTS:SCGLY) Declines By 48.7%

Key Points

• Short interest fell 48.7% to 27,277 shares as of July 31, representing 0.0% of outstanding shares and just 0.1 days to cover based on average trading volume.
• Analysts maintain a generally positive outlook, with one Strong Buy, four Buy and four Hold ratings, resulting in a consensus rating of Moderate Buy.
• Societe Generale reported quarterly EPS of $0.50, exceeding the $0.39 consensus estimate, while revenue of $8.25 billion also surpassed expectations.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 27,277 shares, a drop of 48.7% from the July 15th total of 53,122 shares. Based on an average daily trading volume, of 502,379 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SCGLY shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Societe Generale Group in a research note on Wednesday, July 15th. Kepler Capital Markets upgraded Societe Generale Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Zacks Research raised Societe Generale Group from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Societe Generale upgraded Societe Generale Group from a "market perform" rating to a "hold" rating in a research report on Friday, May 15th. Finally, Citigroup reissued a "buy" rating on shares of Societe Generale Group in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Societe Generale Group Price Performance

SCGLY stock opened at $18.98 on Friday. The firm's 50-day moving average price is $17.76 and its two-hundred day moving average price is $16.79. Societe Generale Group has a 12-month low of $11.89 and a 12-month high of $19.52. The stock has a market capitalization of $71.26 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.57 and a beta of 0.80. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 2.06.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) last issued 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 the consensus estimate of $8.03 billion. Societe Generale Group had a net margin of 23.30% and a return on equity of 7.29%. As a group, equities analysts predict that Societe Generale Group will post 1.82 earnings per share for the current 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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