Societe Generale Group (OTCMKTS:SCGLY) Hits New 52-Week High – Here’s Why

Societe Generale Group (OTCMKTS:SCGLY)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $17.08 and last traded at $17.06, with a volume of 126697 shares trading hands. The stock had previously closed at $16.56.

Wall Street Analysts Forecast Growth

SCGLY has been the subject of a number of recent analyst reports. Zacks Research raised Societe Generale Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Societe Generale Group in a research report on Monday, November 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Societe Generale Group in a report on Monday, November 24th. Kepler Capital Markets lowered shares of Societe Generale Group from a “buy” rating to a “reduce” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group upgraded shares of Societe Generale Group from a “neutral” rating to a “buy” rating in a research report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Societe Generale Group currently has a consensus rating of “Moderate Buy”.

Societe Generale Group Trading Up 3.0%

The business’s 50 day simple moving average is $15.32 and its 200 day simple moving average is $13.70. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $65.40 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.38 and a beta of 0.80.

Societe Generale Group (OTCMKTS:SCGLY) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $7.54 billion. Societe Generale Group had a net margin of 20.06% and a return on equity of 6.18%. Research analysts anticipate that Societe Generale Group will post 1.14 EPS for the current year.

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.