Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up After Strong Earnings

Asahi Kasei Corp. (OTCMKTS:AHKSY) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $19.56, but opened at $21.5616. Asahi Kasei shares last traded at $21.00, with a volume of 1,869 shares changing hands.

The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.19. Asahi Kasei had a net margin of 5.14% and a return on equity of 8.26%.

Analyst Ratings Changes

A number of research analysts recently issued reports on AHKSY shares. The Goldman Sachs Group raised Asahi Kasei from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Zacks Research upgraded shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Asahi Kasei Price Performance

The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $20.13 and a 200 day simple moving average of $19.01. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 13.73 and a beta of 0.49.

Asahi Kasei Company Profile

Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.

Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.