FLSmidth & Co. A/S (OTCMKTS:FLIDY) Stock Price Down 11.2% – Here’s Why

FLSmidth & Co. A/S (OTCMKTS:FLIDY)’s stock price was down 11.2% during mid-day trading on Monday . The company traded as low as $6.88 and last traded at $6.88. Approximately 523 shares changed hands during trading, a decline of 84% from the average daily volume of 3,248 shares. The stock had previously closed at $7.75.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded FLSmidth & Co. A/S to a “hold” rating in a research note on Friday, April 17th. UBS Group upgraded FLSmidth & Co. A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, Barclays raised FLSmidth & Co. A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, FLSmidth & Co. A/S has a consensus rating of “Moderate Buy”.

FLSmidth & Co. A/S Trading Up 2.7%

The stock’s 50-day simple moving average is $7.57 and its 200-day simple moving average is $8.00.

FLSmidth & Co. A/S (OTCMKTS:FLIDY) last announced its earnings results on Wednesday, May 13th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. The business had revenue of $513.62 million for the quarter, compared to the consensus estimate of $566.52 million.

About FLSmidth & Co. A/S

FLSmidth & Co A/S is a Denmark‐based engineering group founded in 1882 by Frederik Læssøe Smidth. The company specializes in the design, manufacture and installation of equipment and services for the global cement and mining industries. Headquartered in Copenhagen, FLSmidth has built a reputation for supplying end‐to‐end solutions that support both greenfield and brownfield projects worldwide.

FLSmidth’s core offerings include crushing, grinding, separation and pyro‐processing equipment, as well as material handling systems and pumps.