SMC (OTCMKTS:SMCAY) Shares Gap Down – Here’s What Happened

Smc Corporation (OTCMKTS:SMCAY) gapped down before the market opened on Tuesday . The stock had previously closed at $22.39, but opened at $21.3196. SMC shares last traded at $21.44, with a volume of 204,764 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of SMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Finally, The Goldman Sachs Group lowered SMC from a “strong-buy” rating to a “neutral” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

SMC Price Performance

The business’s 50 day simple moving average is $22.41 and its 200 day simple moving average is $22.05. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09.

SMC (OTCMKTS:SMCAY) last announced its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.10. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. SMC had a net margin of 21.94% and a return on equity of 9.40%. As a group, analysts expect that Smc Corporation will post 1.1 EPS for the current fiscal year.

About SMC

SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.