Asahi Kasei (OTCMKTS:AHKSY) Downgraded to “Hold” Rating by CLSA

Asahi Kasei (OTCMKTS:AHKSY) was downgraded by equities researchers at CLSA from a “moderate buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Asahi Kasei Stock Down 0.3%

Shares of OTCMKTS:AHKSY opened at $13.58 on Thursday. Asahi Kasei has a 52 week low of $12.12 and a 52 week high of $15.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.69. The company’s fifty day moving average is $13.63 and its 200-day moving average is $13.74. The company has a market capitalization of $9.46 billion, a PE ratio of 17.19 and a beta of 0.47.

Asahi Kasei (OTCMKTS:AHKSY) last issued its earnings results on Friday, May 9th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.21 by $0.14. Asahi Kasei had a net margin of 2.77% and a return on equity of 7.85%. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.21 billion.

About Asahi Kasei

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.