Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) Posts Quarterly Earnings Results

Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) announced its earnings results on Wednesday. The company reported $1.11 earnings per share for the quarter, Zacks reports. The firm had revenue of $17.50 billion for the quarter.

Idemitsu Kosan Co.,Ltd. Trading Up 5.1%

Shares of Idemitsu Kosan Co.,Ltd. stock opened at $17.20 on Thursday. Idemitsu Kosan Co.,Ltd. has a twelve month low of $13.70 and a twelve month high of $22.79. The company has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $17.99.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Idemitsu Kosan Co.,Ltd. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, the company has an average rating of “Strong Buy”.

About Idemitsu Kosan Co.,Ltd.

Idemitsu Kosan Co., Ltd. is a Japanese energy and materials company whose roots trace to a petroleum sales business founded by Sazo Idemitsu in 1911. The company is headquartered in Tokyo and has grown into a broad-based supplier of energy and industrial products. Its businesses include refining and marketing petroleum products such as gasoline, kerosene, diesel, and lubricants; producing petrochemicals and other materials; and developing and supplying energy resources, including oil, natural gas, and coal.