AB SKF (OTCMKTS:SKFRY) Share Price Crosses Below 50 Day Moving Average – Here’s Why

AB SKF (OTCMKTS:SKFRY) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $25.63 and traded as low as $25.50. AB SKF shares last traded at $25.79, with a volume of 20,831 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded AB SKF from a “moderate buy” rating to a “hold” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

AB SKF Stock Performance

The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.00 and a beta of 1.18. The business’s 50 day moving average price is $25.64 and its two-hundred day moving average price is $26.19.

AB SKF (OTCMKTS:SKFRY) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. AB SKF had a return on equity of 13.63% and a net margin of 4.23%.The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.44 billion. On average, equities analysts predict that AB SKF will post 1.8 earnings per share for the current fiscal year.

AB SKF Company Profile

AB SKF (OTCMKTS:SKFRY) is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company’s products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world’s first self-aligning ball bearing and has since grown into a truly global organization.