Zacks Investment Research Downgrades Societe Generale (SCGLY) to Strong Sell

Zacks Investment Research lowered shares of Societe Generale (OTCMKTS:SCGLY) from a hold rating to a strong sell rating in a research note published on Wednesday 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. “

SCGLY has been the topic of several other reports. HSBC reaffirmed a hold rating on shares of Societe Generale in a report on Thursday, April 4th. Bank of America reaffirmed an underperform rating on shares of Societe Generale in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods reaffirmed an underperform rating on shares of Societe Generale in a report on Monday, February 11th. ValuEngine downgraded shares of Societe Generale from a sell rating to a strong sell rating in a report on Friday, March 1st. Finally, Jefferies Financial Group downgraded shares of Societe Generale from a buy rating to a hold rating in a report on Tuesday, February 26th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $44.50.

SCGLY stock opened at $5.76 on Wednesday. The firm has a market capitalization of $23.63 billion, a PE ratio of 4.97 and a beta of 1.03. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 3.29. Societe Generale has a 12 month low of $5.33 and a 12 month high of $9.89.

Societe Generale (OTCMKTS:SCGLY) last released its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.16 by $0.09. The business had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.99 billion. Societe Generale had a net margin of 14.59% and a return on equity of 6.16%. On average, research analysts expect that Societe Generale will post 0.82 EPS for the current fiscal year.

The company also recently declared an annual dividend, which will be paid on Monday, July 8th. Investors of record on Friday, May 24th will be issued a dividend of $0.40 per share. This represents a yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 23rd. 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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Analyst Recommendations for Societe Generale (OTCMKTS:SCGLY)

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