Kone Oyj (OTCMKTS:KNYJY) Shares Gap Up – Here’s Why

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $28.70, but opened at $29.47. Kone Oyj shares last traded at $29.40, with a volume of 3,148 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KNYJY. Kepler Capital Markets raised Kone Oyj from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Zacks Research upgraded Kone Oyj from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Kone Oyj has a consensus rating of “Hold”.

Kone Oyj Trading Up 0.6%

The company has a quick ratio of 0.83, a current ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $29.32 and its 200-day moving average price is $29.82. The stock has a market capitalization of $26.57 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.69 and a beta of 0.59.

Kone Oyj (OTCMKTS:KNYJY) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.38 billion. Kone Oyj had a return on equity of 38.87% and a net margin of 8.33%. As a group, equities research analysts expect that Kone Oyj Unsponsored ADR will post 1.2 earnings per share for the current year.

Kone Oyj Company Profile

KONE Oyj is a Finland-based company that develops, manufactures, sells, installs and services elevators, escalators and automatic building doors. Its solutions are used in residential, commercial and public buildings to support the movement of people and goods, improve accessibility and enhance building flow.

The company provides equipment for new construction as well as maintenance, modernization and replacement services for existing installations. Its offerings include digital systems and connected services designed to support equipment monitoring, predictive maintenance and improved passenger experiences.

Founded in 1910 and headquartered in Espoo, Finland, KONE serves customers across Europe, the Middle East and Africa, the Americas and the Asia-Pacific region.