Toray Industries (OTCMKTS:TRYIY) Trading 14.3% Higher After Strong Earnings

Toray Industries Inc. (OTCMKTS:TRYIY) traded up 14.3% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $17.2618 and last traded at $17.15. 4,272 shares changed hands during trading, a decline of 87% from the average session volume of 32,051 shares. The stock had previously closed at $15.01.

The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. Toray Industries had a net margin of 3.06% and a return on equity of 4.22%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.03 billion.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Toray Industries to a “hold” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Toray Industries currently has an average rating of “Buy”.

Toray Industries Trading Up 4.6%

The company’s 50-day moving average is $14.30 and its 200 day moving average is $14.61. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12.88 billion, a PE ratio of 24.46 and a beta of 0.50.

About Toray Industries

Toray Industries, Inc is a global leader in advanced materials and chemical technologies, headquartered in Tokyo, Japan. The company’s core operations span five business segments: fibers & textiles, performance chemicals, carbon fiber composite materials, environment & engineering, and life sciences. Toray serves a diverse range of industries, including automotive, aerospace, electronics, construction, healthcare and water treatment, leveraging its material innovation to meet evolving market demands.

In the fibers & textiles division, Toray develops synthetic fibers and high-performance fabrics for applications such as apparel, industrial materials and automotive interiors.