Societe Generale Group (OTCMKTS:SCGLY) Short Interest Update

Key Points

• Short interest plunged 49.1% to 337,940 shares as of March 13, leaving a days-to-cover ratio of just 0.2 and effectively 0.0% of the company's stock sold short.
• Quarterly results beat expectations: Societe Generale reported EPS of $0.37 vs. $0.32 consensus and revenue of $7.83 billion vs. $7.77 billion, with a net margin of 22.01% and analysts projecting ~1.14 EPS for the year.
• Market/analyst view is constructive: SCGLY opened at $15.07 with a $56.64B market cap and P/E of 8.86, and MarketBeat shows a consensus rating of "Moderate Buy" (1 Strong Buy, 6 Buy, 2 Hold, 1 Sell).

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 337,940 shares, a decrease of 49.1% from the February 26th total of 663,884 shares. Based on an average trading volume of 1,381,911 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company's stock are sold short.

Societe Generale Group Stock Up 2.3%

SCGLY stock opened at $15.07 on Thursday. The firm has a market cap of $56.64 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.50 and a beta of 0.75. Societe Generale Group has a 1-year low of $7.29 and a 1-year high of $18.30. The firm has a fifty day moving average price of $16.52 and a two-hundred day moving average price of $14.88. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.21 and a quick ratio of 1.21.

Societe Generale Group (OTCMKTS:SCGLY - Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. Societe Generale Group had a net margin of 22.01% and a return on equity of 6.71%. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.77 billion. Research analysts predict that Societe Generale Group will post 1.14 EPS for the current year.

Analysts Set New Price Targets

Several 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 report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Societe Generale Group in a research report on Monday, February 16th. Zacks Research upgraded Societe Generale Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Citigroup reissued a "buy" rating on shares of Societe Generale Group in a report on Monday, February 9th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Societe Generale Group in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

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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