Societe Generale Group (OTCMKTS:SCGLY) Sees Significant Drop in Short Interest

Societe Generale Group (OTCMKTS:SCGLY) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 27,277 shares, a decline of 48.7% from the July 15th total of 53,122 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 502,379 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SCGLY shares. Citigroup reissued a “buy” rating on shares of Societe Generale Group in a report on Monday, July 20th. Kepler Capital Markets raised Societe Generale Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Societe Generale raised 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. Finally, Zacks Research raised shares of Societe Generale Group from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Societe Generale Group has an average rating of “Moderate Buy”.

Societe Generale Group Trading Down 0.1%

Shares of SCGLY stock traded down $0.01 on Monday, hitting $18.96. The company had a trading volume of 117,358 shares, compared to its average volume of 653,751. Societe Generale Group has a twelve month low of $11.89 and a twelve month high of $19.52. 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 firm has a market cap of $71.20 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.57 and a beta of 0.80. The stock’s 50-day moving average is $17.76 and its two-hundred day moving average is $16.78.

Societe Generale Group (OTCMKTS:SCGLY) last announced its earnings results on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.03 billion. Societe Generale Group had a return on equity of 7.29% and a net margin of 23.30%. On average, equities research analysts anticipate that Societe Generale Group will post 1.82 earnings per share for the current fiscal year.

Societe Generale Group Company Profile

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.