Asahi Kasei (OTCMKTS:AHKSY) Releases Earnings Results

Asahi Kasei (OTCMKTS:AHKSY) issued its quarterly earnings data on Thursday. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07, Zacks reports. Asahi Kasei had a return on equity of 8.58% and a net margin of 6.10%. The company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.32 billion.

Asahi Kasei Stock Down 2.1%

OTCMKTS AHKSY traded down $0.42 during mid-day trading on Friday, reaching $19.16. 11,553 shares of the company’s stock traded hands, compared to its average volume of 32,138. The company has a current ratio of 2.01, a quick ratio of 1.12 and a debt-to-equity ratio of 0.42. Asahi Kasei has a 1-year low of $16.00 and a 1-year high of $24.12. The company has a fifty day simple moving average of $20.42 and a 200-day simple moving average of $21.02. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 10.41 and a beta of 0.60.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group downgraded Asahi Kasei from a “buy” rating to a “hold” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

About Asahi Kasei

Asahi Kasei Corp. is a diversified Japanese company with operations spanning materials, homes and health care. Its materials businesses provide products such as engineering plastics, synthetic rubber, coatings materials, electronic materials, separators for lithium-ion batteries and other performance materials used in automotive, consumer, industrial and technology applications.

Through its homes operations, Asahi Kasei develops and builds residential properties, offers housing-related services and produces construction materials.