SMC (OTCMKTS:SMCAY) Shares Gap Up – Still a Buy?

Smc Corporation (OTCMKTS:SMCAY – Get Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $21.0550, but opened at $21.69. SMC shares last traded at $21.50, with a volume of 21,940 shares traded.

Wall Street Analysts Forecast Growth

SMCAY has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Zacks Research upgraded shares of SMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group lowered 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 Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy”.

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SMC Price Performance

The business’s 50-day simple moving average is $22.24 and its two-hundred day simple moving average is $21.95. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.48 and a beta of 1.09.

SMC (OTCMKTS:SMCAY – Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.54 billion. SMC had a net margin of 21.94% and a return on equity of 9.40%. As a group, sell-side analysts expect that Smc Corporation will post 1.1 EPS for the current year.

SMC Company Profile

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SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.

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