AB SKF (OTCMKTS:SKFRY) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

AB SKF (OTCMKTS:SKFRY) issued its earnings results on Tuesday. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06, Zacks reports. AB SKF had a net margin of 4.20% and a return on equity of 14.27%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.44 billion.

AB SKF Stock Down 5.1%

Shares of OTCMKTS:SKFRY opened at $25.64 on Wednesday. The stock has a market cap of $11.68 billion, a P/E ratio of 29.81, a P/E/G ratio of 1.80 and a beta of 1.17. The firm has a fifty day moving average price of $25.85 and a 200 day moving average price of $26.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.19. AB SKF has a 1-year low of $18.04 and a 1-year high of $29.41.

Analyst Ratings Changes

SKFRY has been the subject of a number of recent research reports. Rothschild & Co Redburn cut shares of AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group cut shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, January 19th. Zacks Research cut shares of AB SKF from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Jefferies Financial Group cut shares of AB SKF from a “hold” rating to a “moderate sell” rating in a research note on Sunday, January 25th. Finally, Royal Bank Of Canada cut shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AB SKF has an average rating of “Reduce”.

AB SKF Company Profile

AB SKF (OTCMKTS:SKFRY) is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company’s products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world’s first self-aligning ball bearing and has since grown into a truly global organization.