AB SKF (OTCMKTS:SKFRY) Shares Gap Down After Earnings Miss

Shares of AB SKF (OTCMKTS:SKFRY) gapped down prior to trading on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $28.81, but opened at $26.40. AB SKF shares last traded at $26.40, with a volume of 1,254 shares changing hands.

The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.41 billion. AB SKF had a return on equity of 14.25% and a net margin of 4.20%.

Analysts Set New Price Targets

Several analysts have recently commented on SKFRY shares. Deutsche Bank Aktiengesellschaft raised shares of AB SKF from a “hold” rating to a “buy” rating in a research report on Tuesday, November 18th. BNP Paribas Exane upgraded shares of AB SKF to a “hold” rating in a report on Tuesday, December 9th. Rothschild Redb lowered shares of AB SKF from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 21st. Jefferies Financial Group downgraded AB SKF from a “hold” rating to a “moderate sell” rating in a research note on Sunday, January 25th. Finally, Zacks Research downgraded AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

AB SKF Price Performance

The company has a quick ratio of 1.20, a current ratio of 2.16 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average is $26.92 and its two-hundred day moving average is $25.82. The company has a market capitalization of $12.39 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15.

About AB SKF

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.