Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Still a Buy?

Nitto Denko Corp. (OTCMKTS:NDEKY) gapped up prior to trading on Thursday. The stock had previously closed at $20.84, but opened at $23.11. Nitto Denko shares last traded at $22.4850, with a volume of 289 shares changing hands.

Nitto Denko Price Performance

The business has a 50 day simple moving average of $22.02 and a 200 day simple moving average of $21.04. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 16.43 and a beta of 0.82.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. On average, equities research analysts predict that Nitto Denko Corp. will post 1.36 EPS for the current year.

About Nitto Denko

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.