SMC (OTCMKTS:SMCAY) Shares Gap Down – What’s Next?

Shares of Smc Corporation (OTCMKTS:SMCAY) gapped down prior to trading on Thursday. The stock had previously closed at $23.97, but opened at $21.8001. SMC shares last traded at $22.33, with a volume of 6,472 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on SMCAY shares. Jefferies Financial Group raised shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Zacks Research downgraded shares of SMC from a “strong-buy” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

SMC Price Performance

The company has a market cap of $29.60 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company has a fifty day moving average price of $22.57 and a 200 day moving average price of $22.10.

SMC (OTCMKTS:SMCAY) last announced its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. SMC had a net margin of 21.94% and a return on equity of 9.40%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, sell-side analysts predict that Smc Corporation will post 1.10 EPS for the current fiscal year.

About SMC

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.