Asahi Kasei (OTCMKTS:AHKSY) Posts Quarterly Earnings Results

Asahi Kasei (OTCMKTS:AHKSY) posted its quarterly earnings results on Friday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10, Zacks reports. Asahi Kasei had a return on equity of 8.53% and a net margin of 5.14%.

Asahi Kasei Trading Down 6.6%

Asahi Kasei stock traded down $1.51 during midday trading on Friday, hitting $21.49. 20,995 shares of the stock were exchanged, compared to its average volume of 30,210. The stock has a market capitalization of $14.98 billion, a PE ratio of 13.95 and a beta of 0.53. The company has a fifty day simple moving average of $22.36 and a two-hundred day simple moving average of $21.17. The company has a quick ratio of 1.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Asahi Kasei has a 52 week low of $13.57 and a 52 week high of $24.12.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Asahi Kasei presently has an average rating of “Buy”.

Asahi Kasei Company Profile

Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.

Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.