Hoya (OTCMKTS:HOCPY) Shares Down 5% – Here’s Why

Hoya Corp. (OTCMKTS:HOCPY)’s stock price dropped 5% on Tuesday. The stock traded as low as $156.86 and last traded at $157.0825. Approximately 391 shares were traded during trading, a decline of 99% from the average daily volume of 39,077 shares. The stock had previously closed at $165.3350.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Hoya from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating. According to MarketBeat, Hoya presently has a consensus rating of “Strong Buy”.

Hoya Stock Down 6.6%

The company has a market cap of $48.96 billion, a PE ratio of 27.75, a P/E/G ratio of 3.24 and a beta of 1.01. The company’s 50 day moving average is $155.06 and its 200 day moving average is $165.94. The company has a current ratio of 4.91, a quick ratio of 4.20 and a debt-to-equity ratio of 0.03.

Hoya (OTCMKTS:HOCPY) last issued its earnings results on Friday, October 30th. The technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.67 billion. Hoya had a net margin of 28.48% and a return on equity of 27.06%. As a group, analysts predict that Hoya Corp. will post 5.27 earnings per share for the current fiscal year.

About Hoya

HOYA Corporation is a Japan-based technology and healthcare company that develops and manufactures optical products and precision components. Founded in 1941 as an optical glass manufacturer, the company has expanded into medical devices, vision care, and advanced technologies used in semiconductor production and other industrial applications.

Through its Life Care businesses, HOYA provides prescription eyeglass lenses, contact lenses, intraocular lenses used in cataract surgery, and medical equipment such as endoscopic systems.