AB Volvo (OTCMKTS:VLVLY) Shares Gap Down After Earnings Miss

AB Volvo (OTCMKTS:VLVLY)’s share price gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $28.16, but opened at $26.19. AB Volvo shares last traded at $26.37, with a volume of 56,866 shares.

The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.13). The firm had revenue of $11.75 billion for the quarter, compared to analyst estimates of $115.79 billion. AB Volvo had a return on equity of 23.77% and a net margin of 8.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VLVLY shares. Sanford C. Bernstein upgraded AB Volvo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. The Goldman Sachs Group cut AB Volvo from a “buy” rating to a “neutral” rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

AB Volvo Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market cap of $53.60 billion, a PE ratio of 12.99, a PEG ratio of 3.79 and a beta of 1.16. The company has a 50-day simple moving average of $29.44 and a 200-day simple moving average of $28.14.

AB Volvo Company Profile

AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania. The company provides heavy-duty trucks for long-haulage and construction work and light-duty trucks for distribution purposes under the Volvo, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and chassis under the Prevost and Volvo Bus brands.