Rakuten (OTCMKTS:RKUNY) Hits New 1-Year Low – Here’s What Happened

Rakuten, Inc. (OTCMKTS:RKUNY) hit a new 52-week low during trading on Thursday . The stock traded as low as $4.60 and last traded at $4.60, with a volume of 1578 shares. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Rakuten from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rakuten currently has a consensus rating of “Buy”.

Rakuten Stock Down 2.3%

The stock has a fifty day moving average price of $5.69 and a two-hundred day moving average price of $6.09. The company has a market cap of $10.05 billion, a price-to-earnings ratio of -8.57 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.11.

Rakuten (OTCMKTS:RKUNY) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Rakuten had a negative net margin of 7.13% and a negative return on equity of 14.73%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.15 billion. As a group, sell-side analysts expect that Rakuten, Inc. will post 0.06 EPS for the current year.

Rakuten Company Profile

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.