Societe Generale (OTCMKTS:SCGLY) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Societe Generale (OTCMKTS:SCGLY) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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 analysts have also weighed in on SCGLY. JPMorgan Chase & Co. raised Societe Generale from a neutral rating to an overweight rating in a research report on Wednesday, July 17th. ValuEngine upgraded Societe Generale from a sell rating to a hold rating in a research note on Wednesday, October 2nd. BNP Paribas reaffirmed a buy rating on shares of Societe Generale in a report on Thursday, July 11th. UBS Group cut shares of Societe Generale from a buy rating to a neutral rating in a report on Tuesday, October 1st. Finally, Citigroup raised shares of Societe Generale from a neutral rating to a buy rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Societe Generale has a consensus rating of Hold and a consensus price target of $44.50.

SCGLY stock opened at $5.69 on Tuesday. The stock has a 50-day moving average price of $5.42 and a 200-day moving average price of $5.41. Societe Generale has a 1-year low of $4.68 and a 1-year high of $8.26. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 3.52. The firm has a market cap of $23.69 billion, a PE ratio of 4.91 and a beta of 1.07.

Societe Generale (OTCMKTS:SCGLY) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.29 earnings per share for the quarter. Societe Generale had a return on equity of 6.38% and a net margin of 14.23%. The firm had revenue of $7.06 billion during the quarter. On average, analysts forecast that Societe Generale will post 0.74 earnings per share for the current year.

Societe Generale Company Profile

Société Générale Société anonyme provides financial services in Europe and internationally. Its primary businesses include French retail banking; international retail banking, insurance, and financial services; and global banking and investor solutions. The company offers retail banking services to individual customers, professionals, and businesses and non-profit clients under the Societe Generale, Crédit du Nord, and Boursorama Banque brands; and international retail banking and consumer credit services to individual and corporate customers in Europe, Russia, the Mediterranean Basin, and Sub-Saharan Africa.

Read More: Insider Trading

Get a free copy of the Zacks research report on Societe Generale (SCGLY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Societe Generale (OTCMKTS:SCGLY)

Receive News & Ratings for Societe Generale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Societe Generale and related companies with MarketBeat.com's FREE daily email newsletter.