SCGLY - Societe Generale Still Treading Water And Going Nowhere Fast
French banking giant Societe Generale (OTCPK:SCGLY) continues to post the sort of performance that puts the stock firmly in the “cheap for a reason” camp. Although second quarter results were better than expected pretty much across the board, the core results weren’t as strong and the company is falling short of its own modest targets. Although the stock sports a high yield, low multiples, and very low expectations, it’s tough to see what will break this company out of its malaise short of another turnover in management or a more serious merger approach