AB SKF (OTCMKTS:SKFRY) Sees Large Drop in Short Interest

AB SKF (OTCMKTS:SKFRY) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 5,054 shares, a decrease of 83.1% from the May 14th total of 29,922 shares. Based on an average trading volume of 37,846 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

AB SKF Stock Performance

Shares of SKFRY traded down $0.64 during midday trading on Wednesday, reaching $24.90. The stock had a trading volume of 6,001 shares, compared to its average volume of 18,886. The firm has a 50 day simple moving average of $25.41 and a 200-day simple moving average of $26.19. AB SKF has a one year low of $21.37 and a one year high of $29.41. The firm has a market cap of $11.34 billion, a PE ratio of 28.30, a P/E/G ratio of 2.00 and a beta of 1.18. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.

AB SKF (OTCMKTS:SKFRY) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.44 billion. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. As a group, sell-side analysts anticipate that AB SKF will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SKFRY shares. Royal Bank Of Canada downgraded shares of AB SKF from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 20th. Zacks Research downgraded shares of AB SKF from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, AB SKF presently has a consensus rating of “Reduce”.

AB SKF Company Profile

AB SKF (OTCMKTS:SKFRY) is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company’s products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world’s first self-aligning ball bearing and has since grown into a truly global organization.