SMC (OTCMKTS:SMCAY) Cut to “Hold” at Zacks Research

Zacks Research cut shares of SMC (OTCMKTS:SMCAY) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks reports.

Separately, Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

SMC Stock Down 2.8%

SMCAY stock opened at $22.47 on Tuesday. The firm has a market cap of $28.70 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.58 and a beta of 1.11. The company’s fifty day simple moving average is $22.55 and its 200 day simple moving average is $22.10. SMC has a 12-month low of $15.86 and a 12-month high of $27.77.

SMC (OTCMKTS:SMCAY) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. SMC had a return on equity of 9.40% and a net margin of 21.94%. Research analysts expect that SMC will post 1.1 earnings per share for the current year.

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of pneumatic and industrial automation equipment. The company develops products used to control, move and regulate compressed air and other gases in manufacturing and process applications.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and temperature-control systems. These products support factory automation and are used across industries such as automotive, electronics, semiconductor manufacturing, packaging, food processing and general industrial production.

Founded in Japan in 1959, SMC has expanded from its domestic base into an international business serving customers through subsidiaries, sales offices and distribution networks across Asia, Europe, North America and other regions.