Asahi Kasei (OTCMKTS:AHKSY – Get Free Report) announced its earnings results on Tuesday. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.27 by $0.19, Zacks reports. Asahi Kasei had a net margin of 5.14% and a return on equity of 8.26%.
Asahi Kasei Trading Up 7.4%
Shares of OTCMKTS:AHKSY traded up $1.44 during midday trading on Tuesday, hitting $21.00. 2,169 shares of the stock were exchanged, compared to its average volume of 30,016. The business’s 50-day moving average price is $20.13 and its 200 day moving average price is $19.01. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 13.73 and a beta of 0.49. Asahi Kasei has a 12 month low of $12.71 and a 12 month high of $24.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 2.11.
Analyst Ratings Changes
A number of brokerages have issued reports on AHKSY. The Goldman Sachs Group upgraded shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.
Asahi Kasei Company Profile
Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.
Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.
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