Fanuc (OTCMKTS:FANUY) Shares Gap Up After Better-Than-Expected Earnings

Fanuc Corp. (OTCMKTS:FANUY) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.71, but opened at $18.61. Fanuc shares last traded at $18.84, with a volume of 23,924 shares traded.

The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Fanuc had a net margin of 20.11% and a return on equity of 9.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FANUY. UBS Group cut Fanuc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Citigroup lowered Fanuc from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Fanuc Price Performance

The stock has a market capitalization of $36.89 billion, a PE ratio of 30.29, a P/E/G ratio of 2.54 and a beta of 1.07. The firm’s 50 day simple moving average is $18.95 and its 200 day simple moving average is $20.94.

Fanuc Company Profile

Fanuc Corp. is a Japanese manufacturer of factory automation equipment and industrial robotics headquartered in Yamanashi, Japan. The company provides automation technologies used in manufacturing, including computer numerical control (CNC) systems, servo motors and amplifiers, and related control software and hardware.

Fanuc’s product portfolio includes industrial robots and collaborative robots, as well as automated machining and production systems. Its portfolio also includes ROBODRILL machining centers, ROBOSHOT electric injection molding machines, ROBOCUT wire-cut electrical discharge machines, and systems designed to connect, monitor and optimize factory equipment.

The company traces its origins to research and development in numerical control and servo technologies at Fujitsu during the 1950s and became an independent company in 1972.