Zacks Investment Research lowered shares of Societe Generale (OTCMKTS:SCGLY) from a hold rating to a strong sell rating in a research note released on Wednesday, 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. “
A number of other equities analysts have also commented on the company. HSBC restated a hold rating on shares of Societe Generale in a research note on Thursday, April 4th. Bank of America restated an underperform rating on shares of Societe Generale in a research note on Wednesday, April 3rd. ValuEngine lowered Societe Generale from a sell rating to a strong sell rating in a research note on Friday, March 1st. Jefferies Financial Group lowered Societe Generale from a buy rating to a hold rating in a research note on Tuesday, February 26th. Finally, Keefe, Bruyette & Woods restated an underperform rating on shares of Societe Generale in a research note on Monday, February 11th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $44.50.
OTCMKTS:SCGLY remained flat at $$5.81 during mid-day trading on Wednesday. The company had a trading volume of 75,007 shares, compared to its average volume of 427,145. The firm has a market cap of $23.47 billion, a PE ratio of 5.01 and a beta of 1.03. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.40 and a current ratio of 1.41. Societe Generale has a 1-year low of $5.33 and a 1-year high of $10.01.
Societe Generale (OTCMKTS:SCGLY) last released its quarterly earnings results on Friday, May 3rd. The financial services provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. Societe Generale had a return on equity of 6.16% and a net margin of 14.59%. The business had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $6.99 billion. As a group, equities research analysts predict that Societe Generale will post 0.82 earnings per share for the current fiscal year.
The business also recently disclosed an annual dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a yield of 6.7%. Societe Generale’s dividend payout ratio (DPR) is presently 36.21%.
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.
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