Hexagon (OTCMKTS:HXGBY) Shares Up 11.6% Following Earnings Beat

Shares of Hexagon AB Unsponsored ADR (OTCMKTS:HXGBY) rose 11.6% on Wednesday following a stronger than expected earnings report. The stock traded as high as $9.82 and last traded at $9.82. Approximately 13,312 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 644,641 shares. The stock had previously closed at $8.80.

The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Hexagon had a net margin of 40.44% and a return on equity of 9.74%.

Analysts Set New Price Targets

HXGBY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Hexagon in a report on Monday, April 13th. Barclays cut shares of Hexagon from a “hold” rating to an “underweight” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Hexagon Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.26 and a current ratio of 3.44. The stock has a market cap of $26.28 billion, a P/E ratio of 11.25 and a beta of 1.44. The company’s 50 day moving average price is $9.25 and its 200-day moving average price is $10.20.

Hexagon Company Profile

Hexagon AB (publ) is a Sweden-based global provider of digital reality solutions, combining sensor, software and autonomous technologies. The company develops measurement instruments, software and data analytics platforms that enable customers to capture, process and visualize information about physical assets, infrastructure and environments. Hexagon’s offerings are designed to improve productivity and quality in sectors such as manufacturing, construction, surveying, agriculture, mining, public safety and utilities.

The company’s hardware portfolio includes positioning and dimensioning sensors, laser scanners, GNSS receivers and total stations used for surveying and geospatial data acquisition.