Mercedes-Benz Group (OTCMKTS:MBGYY) Shares Gap Down – Here’s Why

Mercedes-Benz Group AG (OTCMKTS:MBGYY) gapped down prior to trading on Tuesday. The stock had previously closed at C$11.47, but opened at C$11.04. Mercedes-Benz Group shares last traded at C$11.06, with a volume of 60,737 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Dbs Bank upgraded Mercedes-Benz Group from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, September 30th. Zacks Research raised Mercedes-Benz Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group raised Mercedes-Benz Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Four equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Mercedes-Benz Group Stock Down 3.4%

The firm’s 50 day moving average price is C$12.32 and its two-hundred day moving average price is C$14.32. The firm has a market capitalization of C$42.69 billion, a PE ratio of 7.15 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.32 and a debt-to-equity ratio of 0.67.

Mercedes-Benz Group (OTCMKTS:MBGYY) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$0.33 earnings per share (EPS) for the quarter. Mercedes-Benz Group had a net margin of 3.89% and a return on equity of 5.41%. The firm had revenue of C$37.27 billion for the quarter. As a group, research analysts forecast that Mercedes-Benz Group AG will post 1.35 EPS for the current fiscal year.

About Mercedes-Benz Group

Mercedes-Benz Group AG is a Germany-based automotive company headquartered in Stuttgart. Formerly known as Daimler AG, the company adopted its current name in February 2022 after reorganizing its business around the Mercedes-Benz brand and related mobility activities.

The company develops, manufactures and sells premium passenger cars and luxury vehicles under the Mercedes-Benz, Mercedes-AMG and Mercedes-Maybach brands. Its product range includes sedans, SUVs, coupes, convertibles and electric vehicles.