SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up – Here’s Why

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $54.94, but opened at $58.30. SoftBank Group shares last traded at $58.40, with a volume of 110,293 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, New Street Research lowered shares of SoftBank Group from a “buy” rating to a “neutral” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, SoftBank Group currently has a consensus rating of “Hold”.

SoftBank Group Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $69.24 and its two-hundred day simple moving average is $50.89. The company has a market capitalization of $167.27 billion, a P/E ratio of 8.05 and a beta of 1.49.

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

SoftBank Group Company Profile

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.