Skandinaviska (OTCMKTS:SVKEF) Shares Gap Up - Should You Buy?

Key Points

• Skandinaviska shares opened at $17.90, up from a previous close of $17.29, indicating a positive market response.
• Barclays upgraded Skandinaviska from a "strong sell" to a "strong-buy" rating, while Citigroup maintained a "neutral" rating, suggesting varied analyst perspectives on the stock's potential.
• The company reported a quarterly EPS of $0.42, exceeding estimates, with revenue of $2.07 billion, highlighting its financial performance strength.

Skandinaviska (OTCMKTS:SVKEF - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $17.29, but opened at $17.90. Skandinaviska shares last traded at $17.90, with a volume of 1,500 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SVKEF. Barclays upgraded Skandinaviska from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Citigroup restated a "neutral" rating on shares of Skandinaviska in a research note on Wednesday, May 21st.

Skandinaviska Price Performance

The company has a market capitalization of $36.46 billion, a price-to-earnings ratio of 11.47 and a beta of 0.46. The stock has a 50 day moving average price of $17.54 and a two-hundred day moving average price of $16.15.

Skandinaviska (OTCMKTS:SVKEF - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. Skandinaviska had a return on equity of 14.51% and a net margin of 19.37%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $19.24 billion.

About Skandinaviska

Skandinaviska Enskilda Banken AB (publ) provides corporate, retail, investment, and private banking services. The company operates through Large Corporates & Financial Institutions, Corporate & Private Customers, Private Wealth Management & Family Office, Baltic, Life, and Investment Management divisions.