Alps Electric (OTCMKTS:APELY) Shares Gap Down on Disappointing Earnings

Shares of Alps Electric (OTCMKTS:APELY) gapped down before the market opened on Monday following a weaker than expected earnings announcement. The stock had previously closed at $25.98, but opened at $24.05. Alps Electric shares last traded at $24.05, with a volume of 343 shares trading hands.

The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Alps Electric had a return on equity of 7.19% and a net margin of 2.64%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Alps Electric from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Alps Electric Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.08 and a quick ratio of 1.51. The business has a 50 day moving average price of $26.30 and a 200 day moving average price of $27.04. The stock has a market capitalization of $2.50 billion, a PE ratio of 13.82, a PEG ratio of 7.23 and a beta of 0.37.

Alps Electric Company Profile

Alps Electric Co, Ltd. (OTCMKTS:APELY), a subsidiary of Alps Alpine Co, Ltd., is a Japan-based manufacturer of electronic components and automotive solutions. Founded in 1948 and headquartered in Tokyo, the company designs and produces a broad portfolio of products for consumer electronics, industrial equipment, and the automotive sector. Its offerings include human-machine interface devices such as switches, touchpads, and rotary encoders, as well as sensors, wireless communication modules, and power management solutions.

In the automotive field, Alps Electric supplies advanced mechatronic systems including infotainment controls, navigation keypads, and haptic feedback devices.