Kubota (OTCMKTS:KUBTY) Shares Gap Up on Better-Than-Expected Earnings

Kubota Corp. (OTCMKTS:KUBTY)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $88.68, but opened at $102.38. Kubota shares last traded at $105.99, with a volume of 1,294 shares.

The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.38. Kubota had a net margin of 5.95% and a return on equity of 6.50%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $4.90 billion.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KUBTY shares. UBS Group raised shares of Kubota from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Zacks Research raised Kubota from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Kubota Price Performance

The stock has a 50 day moving average of $75.39 and a two-hundred day moving average of $67.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.26 and a current ratio of 1.68. The firm has a market capitalization of $24.10 billion, a P/E ratio of 20.62 and a beta of 0.92.

Kubota Company Profile

Kubota Corporation (OTCMKTS: KUBTY) is a Japanese multinational manufacturer specializing in agricultural machinery, construction equipment, engines and water infrastructure systems. Founded in 1890 and headquartered in Osaka, Japan, the company has grown from its origins as a cast-iron manufacturer into a diversified industrial enterprise. Kubota’s agricultural machinery portfolio includes tractors, combine harvesters, rice transplanters and irrigation equipment, while its construction machinery lineup features compact excavators, wheel loaders and skid-steer loaders.