AB Volvo (OTCMKTS:VLVLY) Cut to Neutral at The Goldman Sachs Group

Key Points

• AB Volvo has been downgraded from a "buy" rating to a "neutral" rating by The Goldman Sachs Group.
• The company's recent quarterly earnings reported a profit of $0.69 per share, exceeding analysts' expectations of $0.53.
• AB Volvo's stock is trading at $29.51, with a market capitalization of $60.01 billion and has experienced a 52-week price range between $22.55 and $33.33.

The Goldman Sachs Group cut shares of AB Volvo (OTCMKTS:VLVLY - Free Report) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat reports.

AB Volvo Stock Performance

OTCMKTS:VLVLY traded down $0.24 on Monday, reaching $29.31. 40,024 shares of the company's stock were exchanged, compared to its average volume of 46,498. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market cap of $59.61 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 4.13 and a beta of 1.16. AB Volvo has a 52 week low of $22.55 and a 52 week high of $33.33. The stock has a fifty day simple moving average of $29.39 and a 200-day simple moving average of $28.58.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.16. AB Volvo had a net margin of 8.90% and a return on equity of 23.77%. The company had revenue of $12.59 billion during the quarter, compared to analyst estimates of $122.35 billion. As a group, sell-side analysts predict that AB Volvo will post 2.38 earnings per share for the current year.

About AB Volvo

AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania. The company provides heavy-duty trucks for long-haulage and construction work and light-duty trucks for distribution purposes under the Volvo, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and chassis under the Prevost and Volvo Bus brands.