SMC (OTCMKTS:SMCAY) Announces Earnings Results

SMC (OTCMKTS:SMCAY) released its quarterly earnings results on Friday. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08, Zacks reports. SMC had a return on equity of 9.40% and a net margin of 21.94%.

SMC Stock Up 3.5%

Shares of SMCAY stock traded up $0.66 during mid-day trading on Friday, hitting $19.32. 1,000,063 shares of the company’s stock were exchanged, compared to its average volume of 339,915. The stock has a market cap of $24.68 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.37 and a beta of 1.19. SMC has a fifty-two week low of $15.86 and a fifty-two week high of $27.77. The stock has a 50-day simple moving average of $21.24 and a two-hundred day simple moving average of $21.85.

Analysts Set New Price Targets

Separately, Zacks Research lowered SMC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of components and systems used in factory automation. Its products include pneumatic control equipment, valves, actuators, air-preparation units, vacuum equipment and temperature-control devices. The company’s products help control the movement of air, fluids and machinery in automated production processes. SMC serves manufacturers across a range of industries, including automotive, electronics and food processing. Founded in Japan in 1959, SMC has grown into an international supplier, serving customers through operations and sales networks in markets around the world.