Mercedes-Benz Group (OTCMKTS:MBGYY) Shares Gap Down – Here’s Why

Mercedes-Benz Group AG (OTCMKTS:MBGYY) shares gapped down prior to trading on Tuesday. The stock had previously closed at C$11.47, but opened at C$11.04. Mercedes-Benz Group shares last traded at C$11.06, with a volume of 60,737 shares trading hands.

Analyst Upgrades and Downgrades

MBGYY has been the subject of a number of research analyst reports. Dbs Bank upgraded Mercedes-Benz Group from a “moderate sell” rating to a “hold” rating in a report on Wednesday, September 30th. Zacks Research upgraded Mercedes-Benz Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, Jefferies Financial Group upgraded Mercedes-Benz Group from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Mercedes-Benz Group Price Performance

The stock has a market cap of C$42.69 billion, a PE ratio of 7.15 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.32 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average is C$12.32 and its 200 day moving average is C$14.32.

Mercedes-Benz Group (OTCMKTS:MBGYY) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.33 earnings per share (EPS) for the quarter. Mercedes-Benz Group had a net margin of 3.89% and a return on equity of 5.41%. The company had revenue of C$37.27 billion during the quarter. As a group, sell-side analysts anticipate that Mercedes-Benz Group AG will post 1.35 earnings per share for the current fiscal year.

Mercedes-Benz Group Company Profile

Mercedes-Benz Group AG is a Germany-based automotive company headquartered in Stuttgart. Formerly known as Daimler AG, the company adopted its current name in February 2022 after reorganizing its business around the Mercedes-Benz brand and related mobility activities.

The company develops, manufactures and sells premium passenger cars and luxury vehicles under the Mercedes-Benz, Mercedes-AMG and Mercedes-Maybach brands. Its product range includes sedans, SUVs, coupes, convertibles and electric vehicles.