Kone Oyj (OTCMKTS:KNYJY) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $28.44 and traded as high as $29.1350. Kone Oyj shares last traded at $29.0850, with a volume of 21,024 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KNYJY shares. Kepler Capital Markets raised shares of Kone Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Zacks Research cut shares of Kone Oyj from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Kone Oyj Price Performance

The firm has a market capitalization of $27.43 billion, a PE ratio of 28.55, a P/E/G ratio of 1.74 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a fifty day moving average price of $28.52 and a 200-day moving average price of $31.20.

Kone Oyj (OTCMKTS:KNYJY) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Kone Oyj had a return on equity of 35.88% and a net margin of 8.33%.The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Sell-side analysts forecast that Kone Oyj Unsponsored ADR will post 1.2 EPS for the current fiscal year.

About Kone Oyj

Kone Oyj is a Finland-based company that designs, manufactures and services elevators, escalators and automatic building doors. Founded in 1910 and headquartered in Espoo, Kone has grown into a global provider of people-flow solutions, supplying new equipment as well as modernization and maintenance services for a wide range of buildings, including residential, commercial, healthcare, retail and transportation facilities.

The company’s core activities include the engineering and installation of elevator and escalator systems, ongoing maintenance programs to ensure safety and uptime, and modernization of aging equipment to improve performance and energy efficiency.