SMC (OTCMKTS:SMCAY) Shares Gap Down – Here’s Why

Smc Corporation (OTCMKTS:SMCAY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $24.26, but opened at $22.88. SMC shares last traded at $22.82, with a volume of 4,059 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SMCAY shares. The Goldman Sachs Group downgraded shares of SMC from a “strong-buy” rating to a “neutral” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of SMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group upgraded SMC from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

SMC Stock Down 3.0%

The company has a market capitalization of $28.06 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.55 and a beta of 1.10. The company has a 50-day moving average price of $22.55 and a 200-day moving average price of $22.11.

SMC (OTCMKTS:SMCAY) last announced its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.54 billion. SMC had a return on equity of 9.40% and a net margin of 21.94%. Equities analysts expect that Smc Corporation will post 1.1 EPS for the current fiscal year.

SMC Company Profile

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.