Fujitsu (OTCMKTS:FJTSY) Shares Down 20.9% on Disappointing Earnings

Fujitsu Ltd. (OTCMKTS:FJTSY)’s share price dropped 20.9% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.52 and last traded at $22.53. 288,322 shares were traded during mid-day trading, a decline of 17% from the average session volume of 345,682 shares. The stock had previously closed at $28.47.

The technology company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.07). The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.23 billion.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Fujitsu from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Fujitsu presently has a consensus rating of “Moderate Buy”.

Fujitsu Stock Down 5.4%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.56 and a current ratio of 1.83. The company has a market capitalization of $39.91 billion, a P/E ratio of 42.09, a PEG ratio of 1.32 and a beta of 0.80. The stock has a 50 day moving average price of $25.65 and a 200 day moving average price of $23.27.

About Fujitsu

Fujitsu Limited is a Japanese information and communications technology company that provides digital services, technology solutions and consulting to businesses, governments and other organizations. Its offerings include cloud computing, artificial intelligence, data and analytics, cybersecurity, application development, systems integration, managed services and digital transformation support.

The company also supplies computing and technology infrastructure, including servers, storage systems, networking products and related enterprise solutions.