Smc Corporation (OTCMKTS:SMCAY) Sees Significant Decline in Short Interest

Smc Corporation (OTCMKTS:SMCAY) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 31,248 shares, a decrease of 75.1% from the September 15th total of 125,646 shares. Based on an average trading volume of 588,201 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

SMC Price Performance

SMC stock opened at $23.17 on Monday. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.58 and a beta of 1.11. SMC has a 12 month low of $15.86 and a 12 month high of $27.77. The stock’s 50-day moving average is $22.57 and its 200-day moving average is $22.12.

SMC (OTCMKTS:SMCAY) last issued its earnings results on Friday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.54 billion. SMC had a return on equity of 9.40% and a net margin of 21.94%. Research analysts anticipate that SMC will post 1.10 EPS for the current year.

Analysts Set New Price Targets

SMCAY has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Zacks Research downgraded shares of SMC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SMC presently has a consensus rating of “Hold”.

About SMC

SMC Corporation is a Japan-based manufacturer of pneumatic and industrial automation equipment. The company develops products used to control, move and regulate compressed air and other gases in manufacturing and process applications.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and temperature-control systems. These products support factory automation and are used across industries such as automotive, electronics, semiconductor manufacturing, packaging, food processing and general industrial production.

Founded in Japan in 1959, SMC has expanded from its domestic base into an international business serving customers through subsidiaries, sales offices and distribution networks across Asia, Europe, North America and other regions.