SMC (OTCMKTS:SMCAY) Shares Gap Down – Here’s What Happened

Smc Corporation (OTCMKTS:SMCAY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $24.26, but opened at $22.88. SMC shares last traded at $22.82, with a volume of 4,059 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on SMCAY. Zacks Research upgraded SMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. The Goldman Sachs Group downgraded SMC from a “strong-buy” rating to a “neutral” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group raised shares of SMC from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

SMC Stock Down 1.8%

The company’s 50 day simple moving average is $22.45 and its two-hundred day simple moving average is $22.07. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 1.64 and a beta of 1.10.

SMC (OTCMKTS:SMCAY) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.54 billion. SMC had a net margin of 21.94% and a return on equity of 9.40%. Analysts anticipate that Smc Corporation will post 1.1 EPS for the current year.

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.