Societe Generale Group (OTCMKTS:SCGLY) Sets New 52-Week High Following Better-Than-Expected Earnings

Shares of Societe Generale Group (OTCMKTS:SCGLY) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $18.73 and last traded at $18.71, with a volume of 32845 shares. The stock had previously closed at $17.49.

The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. Societe Generale Group had a return on equity of 6.92% and a net margin of 22.33%.

Wall Street Analysts Forecast Growth

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

Societe Generale Group Stock Up 7.3%

The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $69.86 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 0.58 and a beta of 0.80. The firm’s fifty day simple moving average is $17.07 and its 200 day simple moving average is $16.56.

About Societe Generale Group

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.