Denso (OTCMKTS:DNZOY) Shares Cross Above 50-Day Moving Average – Here’s Why

Denso Corp. (OTCMKTS:DNZOY)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.95 and traded as high as $12.00. Denso shares last traded at $11.96, with a volume of 115,130 shares.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Denso from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Denso Price Performance

The company has a quick ratio of 1.28, a current ratio of 1.91 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $34.82 billion, a PE ratio of 11.18 and a beta of 0.95. The firm’s fifty day simple moving average is $11.95 and its 200-day simple moving average is $12.97.

Denso (OTCMKTS:DNZOY) last issued its earnings results on Monday, April 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $11.85 billion. Denso had a net margin of 5.82% and a return on equity of 8.29%. On average, research analysts forecast that Denso Corp. will post 0.95 earnings per share for the current fiscal year.

Denso Company Profile

Denso Corporation (OTCMKTS: DNZOY) is a global supplier of automotive technology, systems and components headquartered in Kariya, Aichi Prefecture, Japan. The company designs, manufactures and supplies a wide range of parts and systems for original equipment manufacturers (OEMs) and the aftermarket. Denso’s offerings span thermal systems, powertrain control, electrification components, electronic modules, sensors and actuators, and vehicle safety and driver assistance technologies.

Key product areas include climate control and HVAC components, radiators and heat exchangers, engine and fuel-management systems, starters and alternators, electronic control units (ECUs), sensors, and a growing portfolio of electrification products such as inverters, battery-management systems and charging components.