Toray Industries (OTCMKTS:TRYIY) Trading 14.3% Higher Following Strong Earnings

Toray Industries Inc. (OTCMKTS:TRYIY) rose 14.3% on Friday following a better than expected earnings announcement. The company traded as high as $17.2618 and last traded at $17.15. Approximately 4,272 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 32,051 shares. The stock had previously closed at $15.01.

The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.03 billion. Toray Industries had a return on equity of 4.22% and a net margin of 3.06%.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Toray Industries to a “hold” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Toray Industries Trading Up 4.6%

The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 24.46 and a beta of 0.50. The company has a fifty day moving average price of $14.30 and a 200-day moving average price of $14.61. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27.

Toray Industries Company Profile

Toray Industries, Inc is a global leader in advanced materials and chemical technologies, headquartered in Tokyo, Japan. The company’s core operations span five business segments: fibers & textiles, performance chemicals, carbon fiber composite materials, environment & engineering, and life sciences. Toray serves a diverse range of industries, including automotive, aerospace, electronics, construction, healthcare and water treatment, leveraging its material innovation to meet evolving market demands.

In the fibers & textiles division, Toray develops synthetic fibers and high-performance fabrics for applications such as apparel, industrial materials and automotive interiors.