Anhui Conch Cement (OTCMKTS:AHCHY) Shares Gap Up - Here's What Happened

Key Points

• Anhui Conch Cement shares experienced a gap up at the market open, rising from a previous close of $15.52 to an opening price of $17.11, but fell back to $16.31 later in the trading session.
• The company reported a quarterly earnings miss with an EPS of $0.37, falling short of the consensus estimate of $0.54, and net revenues significantly below analyst expectations at $5.77 billion versus a forecast of $24 billion.
• Anhui Conch Cement has announced a dividend payment of $0.1173 per share, with a dividend yield of 77.0% and a payout ratio currently at 18.85%.

Anhui Conch Cement Co. (OTCMKTS:AHCHY - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $15.52, but opened at $17.11. Anhui Conch Cement shares last traded at $16.31, with a volume of 500 shares trading hands.

Anhui Conch Cement Trading Down 0.4%

The company has a 50 day moving average price of $14.96 and a 200 day moving average price of $14.06. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 12.67 and a beta of 0.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.17 and a current ratio of 3.48.

Anhui Conch Cement (OTCMKTS:AHCHY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $24 billion. Anhui Conch Cement had a net margin of 10.74% and a return on equity of 4.65%.

Anhui Conch Cement Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a $0.1173 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a dividend yield of 77.0%. Anhui Conch Cement's dividend payout ratio (DPR) is presently 18.85%.

About Anhui Conch Cement

Anhui Conch Cement Company Limited, together with its subsidiaries, manufactures, sells, and trades in clinker and cement products. The company operates through five segments: Eastern China, Central China, Southern China, Western China, and Overseas. It provides construction and installation services for industrial purposes; logistic services; and mining and related services.

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