SMC (OTCMKTS:SMCAY) Shares Gap Down – Here’s What Happened

Smc Corporation (OTCMKTS:SMCAY) gapped down before the market opened on Wednesday . The stock had previously closed at $21.63, but opened at $20.59. SMC shares last traded at $21.2250, with a volume of 13,206 shares traded.

Wall Street Analyst Weigh In

SMCAY has been the subject of a number of research reports. Zacks Research raised shares of SMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group raised shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Finally, The Goldman Sachs Group downgraded SMC from a “strong-buy” rating to a “neutral” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SMC presently has a consensus rating of “Buy”.

SMC Price Performance

The firm has a market capitalization of $26.93 billion, a PE ratio of 20.47, a P/E/G ratio of 1.46 and a beta of 1.09. The company’s fifty day simple moving average is $22.28 and its 200 day simple moving average is $21.96.

SMC (OTCMKTS:SMCAY) last posted its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.10. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. SMC had a net margin of 21.94% and a return on equity of 9.40%. On average, analysts anticipate that Smc Corporation will post 1.1 earnings per share for the current fiscal year.

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.