SMC (OTCMKTS:SMCAY) Shares Gap Up After Strong Earnings

Smc Corporation (OTCMKTS:SMCAY)’s stock price gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $23.70, but opened at $24.78. SMC shares last traded at $24.68, with a volume of 7,126 shares.

The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. SMC had a return on equity of 9.40% and a net margin of 21.94%.The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.54 billion.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SMCAY shares. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Zacks Research lowered shares of SMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, The Goldman Sachs Group downgraded shares of SMC from a “strong-buy” rating to a “neutral” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

SMC Trading Up 4.1%

The stock has a 50 day moving average of $21.86 and a 200-day moving average of $21.87. The company has a market capitalization of $31.53 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.48 and a beta of 1.10.

About SMC

SMC Corporation manufactures, processes, and sells automatic control equipment, sintered filters, and various types of filtration equipment worldwide. The company offers air management system, directional control valves, air cylinders, rotatory actuators/air grippers, electric actuators/cylinders, fitting and tubing, and modular F.R.L./pressure control equipment, as well as vacuum, air preparation, and lubrication equipment. It also provides flow control equipment, speed controllers, silencers/exhaust/blow guns/pressure gauges, switches/sensors/controllers, static neutralization equipment, and industrial device communication equipment/wireless system.