Toray Industries (OTCMKTS:TRYIY) Shares Gap Up After Earnings Beat

Toray Industries Inc. (OTCMKTS:TRYIY)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $15.01, but opened at $17.10. Toray Industries shares last traded at $16.31, with a volume of 426 shares trading hands.

The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.03 billion. Toray Industries had a net margin of 3.48% and a return on equity of 4.82%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Toray Industries to a “hold” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Toray Industries Stock Performance

The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 21.01 and a beta of 0.50. The firm has a fifty day moving average of $14.35 and a 200-day moving average of $14.63. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.27.

Toray Industries Company Profile

Toray Industries, Inc is a global leader in advanced materials and chemical technologies, headquartered in Tokyo, Japan. The company’s core operations span five business segments: fibers & textiles, performance chemicals, carbon fiber composite materials, environment & engineering, and life sciences. Toray serves a diverse range of industries, including automotive, aerospace, electronics, construction, healthcare and water treatment, leveraging its material innovation to meet evolving market demands.

In the fibers & textiles division, Toray develops synthetic fibers and high-performance fabrics for applications such as apparel, industrial materials and automotive interiors.