Goldman Sachs Downgrades Societe Generale Group to Neutral Amid Rating Confusion

The Goldman Sachs Group downgraded Societe Generale Group to neutral from buy in a research report issued on Wednesday. This move is one of several ratings changes for SCGLY stock in recent weeks, with some analysts upgrading their recommendations while others lowered theirs. In the past month, Kepler Capital Markets upgraded Societe Generale Group from hold to strong-buy, and Citigroup reiterated its buy rating.

According to MarketBeat, Societe Generale Group currently has an average rating of 'hold' among analysts. This is based on a range of ratings from one strong-buy recommendation to four sell recommendations. The company's stock price opened at $16.76 on Wednesday and has a market cap of $62.93 billion.

The financial services provider reported earnings per share of $0.50 for the quarter, beating analysts' consensus estimates by $0.11. Revenue came in at $8.25 billion, slightly above expectations. Societe Generale Group's net margin is 23.30% and return on equity is 7.20%. The company has a debt-to-equity ratio of 2.10.