SoftBank Group (OTCMKTS:SFTBY) Shares Down 6% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares were down 6% during trading on Tuesday . The company traded as low as $59.35 and last traded at $59.76. Approximately 464,584 shares were traded during trading, a decline of 36% from the average daily volume of 720,612 shares. The stock had previously closed at $63.55.

Wall Street Analyst Weigh In

Separately, New Street Research downgraded SoftBank Group from a “buy” rating to a “neutral” rating in a report on Thursday, September 25th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

SoftBank Group Trading Down 4.0%

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a market capitalization of $174.21 billion, a P/E ratio of 8.38 and a beta of 1.37. The firm has a 50 day simple moving average of $70.59 and a two-hundred day simple moving average of $48.65.

SoftBank Group (OTCMKTS:SFTBY) last announced its earnings results on Tuesday, November 11th. The technology company reported $5.93 EPS for the quarter, beating the consensus estimate of $0.55 by $5.38. SoftBank Group had a net margin of 41.42% and a return on equity of 22.08%. The company had revenue of $12.44 billion during the quarter, compared to the consensus estimate of $12.61 billion. Equities research analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 2.22 earnings per share for the current year.

About SoftBank Group

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.