SoftBank Group (OTCMKTS:SFTBY) Shares Down 10.2% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price dropped 10.2% on Tuesday . The stock traded as low as $15.70 and last traded at $16.0950. Approximately 592,014 shares traded hands during trading, a decline of 75% from the average daily volume of 2,323,856 shares. The stock had previously closed at $17.92.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SFTBY. BTIG Research began coverage on shares of SoftBank Group in a research report on Monday, January 5th. They issued a “buy” rating on the stock. Jefferies Financial Group lowered shares of SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Cantor Fitzgerald assumed coverage on shares of SoftBank Group in a research note on Monday, March 9th. They set an “overweight” rating on the stock. Citigroup initiated coverage on SoftBank Group in a research report on Monday, January 5th. They issued a “buy” rating on the stock. Finally, Zacks Research raised SoftBank Group to a “hold” rating in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

SoftBank Group Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.83. The business has a 50-day moving average price of $12.98 and a 200 day moving average price of $14.57. The stock has a market capitalization of $180.72 billion, a P/E ratio of 7.30 and a beta of 1.50.

SoftBank Group (OTCMKTS:SFTBY) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. SoftBank Group had a return on equity of 23.66% and a net margin of 48.62%.The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.44 billion. As a group, sell-side analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 2.78 EPS for the current fiscal year.

SoftBank Group Company Profile

SoftBank Group Corp is a Tokyo‐based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high‐growth technology companies around the globe.