SMC (OTCMKTS:SMCAY) Shares Gap Up – Here’s Why

Smc Corporation (OTCMKTS:SMCAY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $22.24, but opened at $23.11. SMC shares last traded at $23.14, with a volume of 3,111 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group cut SMC from a “strong-buy” rating to a “neutral” rating in a research report on Thursday, May 28th. Zacks Research raised SMC from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Finally, Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

SMC Trading Up 4.6%

The company’s 50 day moving average price is $22.21 and its 200-day moving average price is $21.04. The company has a market capitalization of $29.72 billion, a PE ratio of 26.44, a PEG ratio of 2.27 and a beta of 1.10.

SMC (OTCMKTS:SMCAY) last issued its earnings results on Thursday, May 14th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. SMC had a return on equity of 8.15% and a net margin of 19.84%. As a group, analysts predict that Smc Corporation will post 0.93 earnings per share for the current year.

About SMC

SMC Corporation manufactures, processes, and sells automatic control equipment, sintered filters, and various types of filtration equipment worldwide. The company offers air management system, directional control valves, air cylinders, rotatory actuators/air grippers, electric actuators/cylinders, fitting and tubing, and modular F.R.L./pressure control equipment, as well as vacuum, air preparation, and lubrication equipment. It also provides flow control equipment, speed controllers, silencers/exhaust/blow guns/pressure gauges, switches/sensors/controllers, static neutralization equipment, and industrial device communication equipment/wireless system.