Shares of Nitto Denko Corp. (OTCMKTS:NDEKY – Get Free Report) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. Approximately 163,357 shares traded hands during mid-day trading, an increase of 325% from the previous session’s volume of 38,455 shares.The stock last traded at $22.77 and had previously closed at $23.55.
The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.64 billion. Nitto Denko had a return on equity of 12.09% and a net margin of 12.56%.
Wall Street Analyst Weigh In
Separately, The Goldman Sachs Group raised Nitto Denko from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.
Nitto Denko Stock Down 3.3%
The stock has a fifty day simple moving average of $23.91 and a 200 day simple moving average of $23.43. The firm has a market capitalization of $15.45 billion, a P/E ratio of 18.36 and a beta of 0.88.
Nitto Denko Company Profile
Nitto Denko Corporation, trading over‐the‐counter in the U.S. under the symbol NDEKY, is a Japan‐based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.
The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.
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