Societe Generale Group (OTCMKTS:SCGLY) Sets New 52-Week High - Here's What Happened

Key Points

• Societe Generale Group's stock reached a new 52-week high of $14.09 during trading, closing at $13.97 with a trading volume of 4,412 shares.
• UBS Group upgraded Societe Generale from a "neutral" to a "buy" rating, contributing to a consensus rating of "Moderate Buy" among analysts.
• The company reported quarterly earnings beating expectations, with earnings per share of $0.36 and revenue of $7.71 billion, exceeding analyst estimates of $6.58 billion.

Shares of Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $14.09 and last traded at $13.97, with a volume of 4412 shares trading hands. The stock had previously closed at $13.54.

Analysts Set New Price Targets

Several brokerages recently weighed in on SCGLY. Barclays restated an "overweight" rating on shares of Societe Generale Group in a research note on Monday, August 4th. UBS Group raised Societe Generale Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

Societe Generale Group Price Performance

The company's 50-day moving average is $12.74 and its 200-day moving average is $11.02. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 3.32. The firm has a market cap of $53.98 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.39 and a beta of 1.13.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $6.58 billion. Societe Generale Group had a return on equity of 6.03% and a net margin of 19.31%. Equities research analysts predict that Societe Generale Group will post 1.14 earnings per share for the current year.

About Societe Generale Group

Société Générale Société anonyme provides banking and financial services to individuals, corporates, and institutional clients in Europe and internationally. It operates through French Retail Banking, International Retail Banking & Financial Services, and Global Banking and Investor Solutions. It offers retail banking services, such as consumer credit, vehicle leasing and fleet management, online banking, wealth management, and equipment and vendor finance services; and insurance products, including home, vehicle, family, health, and mortgage insurance.