Asahi Kasei (OTCMKTS:AHKSY – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.19, Zacks reports. Asahi Kasei had a net margin of 5.14% and a return on equity of 8.26%.
Asahi Kasei Trading Up 7.3%
Shares of Asahi Kasei stock traded up $1.42 during mid-day trading on Tuesday, hitting $20.98. The stock had a trading volume of 4,265 shares, compared to its average volume of 30,027. The firm has a 50-day moving average of $20.13 and a two-hundred day moving average of $19.01. The firm has a market cap of $14.62 billion, a P/E ratio of 13.71 and a beta of 0.49. The company has a quick ratio of 1.23, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. Asahi Kasei has a 12-month low of $12.71 and a 12-month high of $24.12.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on AHKSY shares. The Goldman Sachs Group upgraded Asahi Kasei from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Zacks Research raised Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.
About Asahi Kasei
Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.
Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.
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