AB SKF (OTCMKTS:SKFRY) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

AB SKF (OTCMKTS:SKFRY)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $25.63 and traded as low as $25.50. AB SKF shares last traded at $25.79, with a volume of 20,831 shares trading hands.

Analyst Ratings Changes

Separately, Royal Bank Of Canada cut AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, AB SKF has an average rating of “Reduce”.

AB SKF Price Performance

The stock’s 50 day moving average is $25.63 and its two-hundred day moving average is $26.19. The stock has a market capitalization of $11.74 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.09 and a quick ratio of 1.18.

AB SKF (OTCMKTS:SKFRY) last issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.44 billion. As a group, sell-side analysts forecast that AB SKF will post 1.8 earnings per share for the current fiscal year.

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.