Hexagon (OTCMKTS:HXGBY) Shares Gap Up on Earnings Beat

Hexagon AB Unsponsored ADR (OTCMKTS:HXGBY) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.80, but opened at $9.98. Hexagon shares last traded at $10.00, with a volume of 21,490 shares changing hands.

The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. Hexagon had a net margin of 40.44% and a return on equity of 9.74%.

Analyst Ratings Changes

A number of analysts have commented on HXGBY shares. Barclays downgraded Hexagon from a “hold” rating to an “underweight” rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Hexagon in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Hexagon Stock Up 1.4%

The company has a debt-to-equity ratio of 0.19, a current ratio of 3.44 and a quick ratio of 3.26. The firm has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $10.18. The company has a market cap of $26.90 billion, a PE ratio of 11.52 and a beta of 1.44.

About Hexagon

Hexagon AB (publ) is a Sweden-based global provider of digital reality solutions, combining sensor, software and autonomous technologies. The company develops measurement instruments, software and data analytics platforms that enable customers to capture, process and visualize information about physical assets, infrastructure and environments. Hexagon’s offerings are designed to improve productivity and quality in sectors such as manufacturing, construction, surveying, agriculture, mining, public safety and utilities.

The company’s hardware portfolio includes positioning and dimensioning sensors, laser scanners, GNSS receivers and total stations used for surveying and geospatial data acquisition.