AB Volvo (OTCMKTS:VLVLY) Stock Price Up 1.3% - Here's Why

Key Points

• AB Volvo's stock price increased by 1.3%, trading at $30.10 during mid-day trading while experiencing a lower trading volume of 78,163 shares.
• The company received an upgraded rating from Royal Bank of Canada, changing from a "hold" to a "moderate buy," with a consensus rating currently at "Moderate Buy."
• AB Volvo reported $0.69 EPS for the last quarter, surpassing analysts' estimates, and had a revenue of $12.59 billion.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) rose 1.3% during mid-day trading on Friday . The company traded as high as $30.20 and last traded at $30.10. Approximately 78,163 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 92,373 shares. The stock had previously closed at $29.72.

Analyst Ratings Changes

Separately, Royal Bank Of Canada upgraded AB Volvo from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

AB Volvo Stock Up 1.3%

The business has a 50 day simple moving average of $28.06 and a 200 day simple moving average of $28.34. 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 stock has a market cap of $61.21 billion, a PE ratio of 14.27, a P/E/G ratio of 3.59 and a beta of 1.18.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last issued its earnings results 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 return on equity of 23.77% and a net margin of 8.90%. The firm had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $122.35 billion. On average, equities research analysts forecast that AB Volvo will post 2.38 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.