Denso (OTCMKTS:DNZOY) Shares Down 7.1% Following Weak Earnings

Denso Corp. (OTCMKTS:DNZOY)’s stock price was down 7.1% during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $13.91 and last traded at $13.91. Approximately 15,185 shares traded hands during trading, a decline of 89% from the average daily volume of 138,412 shares. The stock had previously closed at $14.98.

The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Denso had a return on equity of 7.67% and a net margin of 5.62%.The firm had revenue of $11.91 billion during the quarter, compared to the consensus estimate of $11.67 billion.

Analysts Set New Price Targets

A number of equities research analysts have commented on DNZOY shares. UBS Group lowered shares of Denso from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Zacks Research raised shares of Denso from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Denso Stock Down 6.5%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.80. The stock has a market capitalization of $40.75 billion, a price-to-earnings ratio of 14.74 and a beta of 1.01. The firm’s fifty day simple moving average is $14.65 and its 200 day simple moving average is $13.86.

Denso Company Profile

DENSO Corporation engages in the manufacture and sale of automotive parts in Japan, rest of Asia, North America, Europe, and internationally. The company offers air-conditioning systems, including thermal management heat pump system, heat pump air-conditioning systems, refrigerant products, personal heating and cooling devices, air quality system, heat exchangers, bus air-conditioning systems, automotive freezers, and cooling products, as well as heating, ventilation, and air-conditioning units.