The Societe Generale SA (SCGLY) Downgraded by Zacks Investment Research to “Strong Sell”

The Societe Generale SA (SCGLY) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research downgraded shares of Societe Generale SA (NASDAQ:SCGLY) from a hold rating to a strong sell rating in a research note released on Wednesday.

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. “

Separately, Credit Suisse Group AG assumed coverage on Societe Generale SA in a report on Friday, September 16th. They set a neutral rating and a $35.00 price objective on the stock.

Shares of Societe Generale SA (NASDAQ:SCGLY) traded down 3.78% on Wednesday, reaching $7.12. 60,264 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $7.19 and its 200-day moving average price is $7.24. Societe Generale SA has a 12 month low of $5.69 and a 12 month high of $9.90. The company has a market capitalization of $28.45 billion and a P/E ratio of 6.85.

Societe Generale SA Company Profile

Societe Generale SA is a financial services company. The Company is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. The Company’s core businesses are managed through three segments: French Retail Banking, International Retail Banking & Financial Services, and Global Banking and Investor Solutions.

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