Shin-Etsu Chemical (OTCMKTS:SHECY) Trading Down 7% – Here’s Why

Shin-Etsu Chemical Co. (OTCMKTS:SHECY)’s share price was down 7% during mid-day trading on Tuesday . The stock traded as low as $16.40 and last traded at $16.50. Approximately 32,318 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 581,198 shares. The stock had previously closed at $17.74.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Shin-Etsu Chemical from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Shin-Etsu Chemical currently has an average rating of “Hold”.

Shin-Etsu Chemical Stock Performance

The company has a quick ratio of 4.41, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $64.03 billion, a price-to-earnings ratio of 18.75 and a beta of 1.35. The stock’s 50-day simple moving average is $15.96 and its 200 day simple moving average is $15.65.

Shin-Etsu Chemical (OTCMKTS:SHECY) last posted its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $0.22 EPS for the quarter. The company had revenue of $4.22 billion for the quarter. Shin-Etsu Chemical had a return on equity of 10.62% and a net margin of 18.96%. Analysts expect that Shin-Etsu Chemical Co. will post 0.86 earnings per share for the current fiscal year.

About Shin-Etsu Chemical

Shin-Etsu Chemical is a large Japanese chemical company that manufactures a broad range of basic and specialty chemical products for industrial and technology customers. The company is known for production of polyvinyl chloride (PVC) and related vinyl products, silicones and silicone-based compounds, and high-purity silicon materials used in semiconductor and photovoltaic industries. Its product mix spans commodity chemicals for construction and plumbing as well as higher-margin specialty materials for electronics and precision manufacturing.

Key product lines include PVC resins and compounds for infrastructure and building applications; silicones and silicone elastomers used across automotive, healthcare and consumer markets; and semiconductor-grade silicon and silicon wafers that supply chipmakers and solar-cell manufacturers.