AB SKF (OTCMKTS:SKFRY) Shares Gap Down - What's Next?

Key Points

• AB SKF shares gapped down premarket, opening at $25.84 vs. the prior close of $27.03 and last trading at $25.83 on light volume (794 shares).
• Multiple brokers (including Goldman Sachs, Zacks, Jefferies, RBC and Rothschild) have downgraded the stock, leaving a MarketBeat consensus rating of "Reduce" (1 Buy, 4 Hold, 2 Sell).
• The company reported quarterly EPS of $0.46 (beats $0.40 est.) but revenue of $2.39B missed the $2.44B estimate; the stock trades at a PE of 29.65 with 50-/200-day moving averages near $25.85/$26.24.

Shares of AB SKF (OTCMKTS:SKFRY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $27.03, but opened at $25.84. AB SKF shares last traded at $25.83, with a volume of 794 shares traded.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada cut shares of AB SKF from a "moderate buy" rating to a "hold" rating in a research note on Monday. The Goldman Sachs Group cut shares of AB SKF from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, January 19th. Zacks Research cut shares of AB SKF from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 10th. Jefferies Financial Group cut shares of AB SKF from a "hold" rating to a "moderate sell" rating in a research note on Sunday, January 25th. Finally, Rothschild & Co Redburn cut shares of AB SKF from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

AB SKF Price Performance

The company's 50 day moving average price is $25.85 and its 200-day moving average price is $26.24. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $11.61 billion, a PE ratio of 29.65, a PEG ratio of 1.80 and a beta of 1.17.

AB SKF (OTCMKTS:SKFRY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.06. AB SKF had a net margin of 4.20% and a return on equity of 14.27%. The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.44 billion. On average, sell-side analysts forecast that AB SKF will post 1.84 earnings per share for the current fiscal year.

AB SKF Company Profile

AB SKF OTCMKTS: SKFRY is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company's products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world's first self-aligning ball bearing and has since grown into a truly global organization.

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