Denso (OTCMKTS:DNZOY) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Denso Corp. (OTCMKTS:DNZOY) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $12.28 and traded as high as $12.33. Denso shares last traded at $12.30, with a volume of 109,189 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Denso from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Three investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, Denso currently has a consensus rating of “Hold”.

Denso Trading Down 1.8%

The company has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $12.26. The stock has a market cap of $34.09 billion, a P/E ratio of 11.57 and a beta of 0.92. The company has a current ratio of 2.12, a quick ratio of 1.44 and a debt-to-equity ratio of 0.19.

Denso (OTCMKTS:DNZOY) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.99 billion. Denso had a return on equity of 7.74% and a net margin of 5.57%. On average, research analysts expect that Denso Corp. will post 0.91 EPS for the current fiscal year.

About Denso

DENSO Corporation is a Japanese mobility and automotive technology supplier that develops and manufactures components and systems for vehicle makers and other customers. Its products include thermal systems, powertrain and electrification components, automotive electronics, and technologies for vehicle safety and mobility. Founded in 1949 as Nippon Denso Co., Ltd., the company became independent from Toyota Motor Corporation and later adopted the name DENSO Corporation. It is headquartered in Kariya, Aichi Prefecture, Japan.