Obic (OTCMKTS:OBIIF) Shares Gap Up After Strong Earnings

Obic Co (OTCMKTS:OBIIF)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $22.4790, but opened at $25.32. Obic shares last traded at $25.32, with a volume of 100,000 shares traded.

The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Obic had a return on equity of 15.43% and a net margin of 55.67%.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Obic to a “hold” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Obic Stock Up 12.6%

The firm has a 50-day moving average price of $23.60 and a two-hundred day moving average price of $25.87. The company has a market capitalization of $11.05 billion, a P/E ratio of 22.21 and a beta of 0.68.

About Obic

Obic (OTCMKTS:OBIIF) is a Tokyo?based technology company founded in 1978 that specializes in the development and deployment of enterprise resource planning (ERP) software and related IT services. The company’s core offerings include integrated management systems for finance, production, distribution and human resources, which are delivered either through on?premise installations or via cloud?based platforms. Obic’s software suite is designed to help businesses streamline operations, improve data visibility and support decision?making across various functional areas.

In addition to its ERP solutions, Obic provides a range of professional services such as system integration, consulting, customization and ongoing technical support.