Asahi Kasei (OTCMKTS:AHKSY) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Asahi Kasei (OTCMKTS:AHKSY) released its quarterly earnings data on Thursday. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07, Zacks reports. Asahi Kasei had a net margin of 6.10% and a return on equity of 8.58%.

Asahi Kasei Price Performance

Shares of AHKSY stock traded down $0.73 during trading hours on Thursday, hitting $19.58. 36,547 shares of the company’s stock were exchanged, compared to its average volume of 35,305. The firm has a market cap of $13.65 billion, a P/E ratio of 11.67 and a beta of 0.60. The firm has a 50 day moving average of $20.42 and a two-hundred day moving average of $21.02. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. Asahi Kasei has a fifty-two week low of $16.00 and a fifty-two week high of $24.12.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered shares of Asahi Kasei from a “buy” rating to a “hold” rating in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

About Asahi Kasei

Asahi Kasei Corp. is a diversified Japanese company with operations spanning materials, homes and health care. Its materials businesses provide products such as engineering plastics, synthetic rubber, coatings materials, electronic materials, separators for lithium-ion batteries and other performance materials used in automotive, consumer, industrial and technology applications.

Through its homes operations, Asahi Kasei develops and builds residential properties, offers housing-related services and produces construction materials.