Denso (OTCMKTS:DNZOY) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Denso Corp. (OTCMKTS:DNZOY) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.97 and traded as low as $11.57. Denso shares last traded at $11.62, with a volume of 202,579 shares changing hands.

Wall Street Analyst Weigh In

Separately, Citigroup cut shares of Denso from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Denso Price Performance

The company has a market capitalization of $33.83 billion, a P/E ratio of 10.86 and a beta of 0.97. The firm’s fifty day moving average is $11.97 and its 200 day moving average is $13.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.28 and a current ratio of 1.91.

Denso (OTCMKTS:DNZOY) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $11.85 billion. Denso had a net margin of 5.82% and a return on equity of 8.29%. As a group, analysts predict that Denso Corp. will post 0.95 earnings per share for the current fiscal year.

About Denso

Denso Corporation (OTCMKTS: DNZOY) is a global supplier of automotive technology, systems and components headquartered in Kariya, Aichi Prefecture, Japan. The company designs, manufactures and supplies a wide range of parts and systems for original equipment manufacturers (OEMs) and the aftermarket. Denso’s offerings span thermal systems, powertrain control, electrification components, electronic modules, sensors and actuators, and vehicle safety and driver assistance technologies.

Key product areas include climate control and HVAC components, radiators and heat exchangers, engine and fuel-management systems, starters and alternators, electronic control units (ECUs), sensors, and a growing portfolio of electrification products such as inverters, battery-management systems and charging components.