AB SKF (OTCMKTS:SKFRY) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

AB SKF (OTCMKTS:SKFRY)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $25.63 and traded as low as $25.50. AB SKF shares last traded at $25.79, with a volume of 20,831 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

AB SKF Price Performance

The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.97 and a beta of 1.18. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $25.63 and its 200-day moving average price is $26.19.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.44 billion. On average, equities research analysts forecast that AB SKF will post 1.8 EPS for the current year.

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.