Kone Oyj (OTCMKTS:KNYJY) Stock Bumped Down to Strong Sell by Zacks Research

Key Points

• Zacks Research downgraded Kone Oyj from “hold” to “strong sell,” citing a more negative outlook for the Finland-based elevator and escalator maker.
• Kone shares opened at $31.43 and were up 0.4%, with a $26.52–$38.29 12-month trading range and a market capitalization of approximately $28.49 billion.
• The company’s latest quarterly results fell short of expectations: adjusted EPS was $0.27 versus a $0.32 consensus estimate, while revenue was $3.36 billion compared with forecasts of $3.38 billion.

Kone Oyj (OTCMKTS:KNYJY - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday, Zacks reports.

Kone Oyj Trading Up 0.4%

OTCMKTS KNYJY opened at $31.43 on Thursday. Kone Oyj has a 12 month low of $26.52 and a 12 month high of $38.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.83. The firm's 50-day moving average is $29.62 and its two-hundred day moving average is $29.70. The stock has a market capitalization of $28.49 billion, a P/E ratio of 29.65, a PEG ratio of 2.04 and a beta of 0.59.

Kone Oyj (OTCMKTS:KNYJY - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Kone Oyj had a return on equity of 38.87% and a net margin of 8.33%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.38 billion. On average, sell-side analysts anticipate that Kone Oyj will post 1.19 earnings per share for the current year.

About Kone Oyj

KONE Oyj is a Finland-based company that designs, manufactures, installs, modernizes and maintains elevators, escalators and automatic building doors. Its solutions are used in residential, commercial, infrastructure and public buildings, with a focus on improving the movement of people within buildings and urban environments.

The company provides new equipment as well as maintenance and modernization services for existing installations. Its offerings also include digital and connected solutions intended to support equipment monitoring, predictive maintenance, access management and smoother passenger flows.

Founded in 1910, KONE is headquartered in Espoo, Finland, and serves customers internationally across Europe, the Middle East and Africa, the Americas, and the Asia-Pacific region, including Greater China.

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