Adecco (OTCMKTS:AHEXY) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Adecco shares fell below their 200-day moving average during Thursday’s trading, dipping as low as $10.06 versus a 200-day average of $12.19.
• Analyst sentiment has turned more cautious, with several firms downgrading the stock and MarketBeat showing an overall average rating of “Reduce.”
• Recent earnings were better than expected, as Adecco reported $0.29 EPS on revenue of $6.62 billion, topping analyst estimates for both profit and sales.

Adecco SA (OTCMKTS:AHEXY - Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.19 and traded as low as $10.06. Adecco shares last traded at $10.25, with a volume of 6,306 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on AHEXY. Zacks Research downgraded shares of Adecco from a "hold" rating to a "strong sell" rating in a report on Friday, May 15th. Citigroup lowered shares of Adecco from a "strong-buy" rating to a "neutral" rating in a research report on Thursday, April 30th. Morgan Stanley cut shares of Adecco from a "cautious" rating to an "underweight" rating in a research note on Tuesday, June 9th. Finally, UBS Group downgraded Adecco from a "hold" rating to a "sell" rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce".

Adecco Stock Up 1.6%

The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 0.87 and a beta of 0.98. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average is $10.13 and its two-hundred day moving average is $12.19.

Adecco (OTCMKTS:AHEXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The business services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Adecco had a return on equity of 12.09% and a net margin of 1.31%.The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.55 billion. On average, sell-side analysts predict that Adecco SA will post 1.41 EPS for the current year.

About Adecco

Adecco Group AG is a global human resources and workforce solutions provider headquartered in Zurich, Switzerland. The company specializes in temporary staffing, permanent placement, career transition, and talent development services. Its core business activities include matching job seekers with client companies, managing contingent workforce solutions, and offering consulting services related to workforce management and organizational effectiveness.

Founded in 1996 through the merger of the Swiss companies Adia Interim and ECCO, Adecco has grown into one of the world's largest staffing firms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.