AB SKF (OTCMKTS:SKFRY - Get Free Report) shares hit a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $24.59 and last traded at $24.20, with a volume of 5618 shares traded. The stock had previously closed at $23.25.
The industrial products company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. AB SKF had a net margin of 5.54% and a return on equity of 14.32%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $22.91 billion.
Wall Street Analysts Forecast Growth
Separately, Barclays downgraded AB SKF from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th.
Read Our Latest Research Report on SKFRY
AB SKF Stock Up 3.6%
The business's 50 day moving average is $22.33 and its 200-day moving average is $20.97. The company has a market cap of $10.96 billion, a PE ratio of 21.31, a P/E/G ratio of 2.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.05 and a quick ratio of 1.18.
AB SKF Company Profile
(
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AB SKF (publ) designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide. It operates in two segments, Industrial and Automotive. The company offers rolling, mounted and housings, super-precision, slewing, plain, magnetic, and thin section bearings; industrial and automotive seals; lubricants, manual lubrication tools, lubricators, automatic lubrication systems, and lubrication system components; maintenance products, such as hydraulic, mechanical, and alignment tools, as well as heaters; belts, pulleys, chains, sprockets, bushings and hubs, couplings, and bolts and tightening systems; condition monitoring systems; test and measuring equipment, such as waviness and roundness analyzers, noise and vibration testers, and grease test rigs, as well as calibration with traceability, machine training and support, and upgrades and refurbishment services; and vehicle aftermarket products.
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