Kone Oyj (OTCMKTS:KNYJY) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Kone Oyj (OTCMKTS:KNYJY) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks reports.

Kone Oyj Stock Performance

Shares of Kone Oyj stock opened at $31.43 on Thursday. The firm has a market capitalization of $28.49 billion, a P/E ratio of 29.65, a PEG ratio of 2.04 and a beta of 0.59. The company has a quick ratio of 0.83, a current ratio of 0.99 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $29.62 and a 200 day moving average price of $29.70. Kone Oyj has a 52 week low of $26.52 and a 52 week high of $38.29.

Kone Oyj (OTCMKTS:KNYJY) last released its earnings results on Wednesday, July 22nd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). Kone Oyj had a return on equity of 38.87% and a net margin of 8.33%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Sell-side analysts expect that Kone Oyj will post 1.19 EPS for the current year.

About Kone Oyj

KONE Oyj is a Finland-based company that designs, manufactures, installs, modernizes and maintains elevators, escalators and automatic building doors. Its solutions are used in residential, commercial, infrastructure and public buildings, with a focus on improving the movement of people within buildings and urban environments.

The company provides new equipment as well as maintenance and modernization services for existing installations. Its offerings also include digital and connected solutions intended to support equipment monitoring, predictive maintenance, access management and smoother passenger flows.

Founded in 1910, KONE is headquartered in Espoo, Finland, and serves customers internationally across Europe, the Middle East and Africa, the Americas, and the Asia-Pacific region, including Greater China.