AB SKF (OTCMKTS:SKFRY) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up premarket to $25.09 from $23.94 and last traded around $25.16 on light volume (~3,300 shares), but remain below the 50- and 200-day moving averages (about $26.09–$26.16).
• Analysts have turned cautious: multiple firms (including Jefferies, Goldman Sachs, Zacks and Rothschild & Co Redburn) downgraded the stock and MarketBeat shows an average rating of “Reduce” (one Buy, three Hold, two Sell).
• Mixed quarterly results: SKF missed EPS expectations ($0.37 vs $0.41) but beat revenue forecasts ($2.48B vs $2.41B), with a net margin of 4.2% and ROE of 14.27%; analysts expect ~1.51 EPS for the fiscal year.

AB SKF (OTCMKTS:SKFRY - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $23.94, but opened at $25.09. AB SKF shares last traded at $25.1550, with a volume of 3,296 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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. The Goldman Sachs Group cut shares of AB SKF from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, January 19th. Zacks Research lowered shares of AB SKF from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 10th. Finally, Rothschild & Co Redburn lowered shares of AB SKF from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce".

AB SKF Trading Down 1.0%

The business's fifty day moving average is $26.09 and its 200-day moving average is $26.16. The stock has a market capitalization of $11.48 billion, a PE ratio of 29.32, a P/E/G ratio of 1.59 and a beta of 1.17. The company has a quick ratio of 1.19, a current ratio of 2.11 and a debt-to-equity ratio of 0.25.

AB SKF (OTCMKTS:SKFRY - Get Free Report) last released its earnings results on Friday, January 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). AB SKF had a net margin of 4.20% and a return on equity of 14.27%. The company had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.41 billion. As a group, analysts anticipate that AB SKF will post 1.51 EPS 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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