SMC (OTCMKTS:SMCAY) Shares Gap Up Following Earnings Beat

Smc Corporation (OTCMKTS:SMCAY) gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $23.70, but opened at $24.78. SMC shares last traded at $24.68, with a volume of 7,126 shares changing hands.

The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. SMC had a net margin of 21.94% and a return on equity of 9.40%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.54 billion.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SMCAY. The Goldman Sachs Group cut SMC from a “strong-buy” rating to a “neutral” rating in a report on Thursday, May 28th. Jefferies Financial Group upgraded SMC from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Finally, Zacks Research cut SMC from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

SMC Price Performance

The stock has a 50-day moving average price of $21.86 and a two-hundred day moving average price of $21.87. The stock has a market cap of $31.53 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.48 and a beta of 1.10.

SMC Company Profile

SMC Corporation manufactures, processes, and sells automatic control equipment, sintered filters, and various types of filtration equipment worldwide. The company offers air management system, directional control valves, air cylinders, rotatory actuators/air grippers, electric actuators/cylinders, fitting and tubing, and modular F.R.L./pressure control equipment, as well as vacuum, air preparation, and lubrication equipment. It also provides flow control equipment, speed controllers, silencers/exhaust/blow guns/pressure gauges, switches/sensors/controllers, static neutralization equipment, and industrial device communication equipment/wireless system.