Société Générale Société anonyme (OTCMKTS:SCGLY) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Société Générale Société anonyme (OTCMKTS:SCGLY) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $7.00 price objective on the financial services provider’s stock.

According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “

Several other research firms have also recently commented on SCGLY. Deutsche Bank Aktiengesellschaft raised their target price on shares of Société Générale Société anonyme from €32.00 ($37.65) to €34.00 ($40.00) and gave the company a buy rating in a research note on Wednesday, August 4th. UBS Group raised their target price on shares of Société Générale Société anonyme from €18.00 ($21.18) to €28.00 ($32.94) and gave the company a neutral rating in a research note on Monday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Société Générale Société anonyme from €34.00 ($40.00) to €36.00 ($42.35) and gave the company an overweight rating in a research report on Wednesday, August 4th. BNP Paribas upgraded shares of Société Générale Société anonyme from a neutral rating to an outperform rating in a research report on Wednesday, August 4th. Finally, Credit Suisse Group raised their price objective on shares of Société Générale Société anonyme from €32.00 ($37.65) to €34.00 ($40.00) and gave the company an outperform rating in a research report on Wednesday, August 4th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $29.63.

SCGLY stock opened at $6.25 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.39 and a debt-to-equity ratio of 4.25. Société Générale Société anonyme has a fifty-two week low of $2.53 and a fifty-two week high of $6.66. The firm’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $5.90. The stock has a market cap of $26.67 billion, a PE ratio of 7.10 and a beta of 1.57.

Société Générale Société anonyme (OTCMKTS:SCGLY) last released its earnings results on Tuesday, August 3rd. The financial services provider reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. The firm had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $6.88 billion. Société Générale Société anonyme had a net margin of 14.86% and a return on equity of 5.09%. Equities analysts forecast that Société Générale Société anonyme will post 0.82 EPS for the current fiscal year.

About Société Générale Société anonyme

Société Générale SA provides banking and financial services. It operates through the following business segments: French Retail Banking, International Retail Banking & Financial Services, and Global Banking & Investor Solutions. The French Retail Banking segment includes the domestic networks Societe Generale, Crédit du Nord and Boursorama.

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