Kone Oyj (OTCMKTS:KNYJY) Share Price Breaks Below 200-Day Moving Average After Earnings Miss

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY)’s share price crossed below its 200-day moving average during trading on Wednesday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $31.26 and traded as low as $30.10. Kone Oyj shares last traded at $30.3450, with a volume of 59,613 shares changing hands.

The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Kone Oyj had a net margin of 8.33% and a return on equity of 38.87%.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Kone Oyj from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Kone Oyj Trading Down 3.3%

The company has a current ratio of 0.99, a quick ratio of 0.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $27.50 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.05 and a beta of 0.59. The firm has a 50-day moving average of $29.74 and a two-hundred day moving average of $31.26.

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.