Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up - Here's Why

Key Points

• Asahi Kasei Corp. shares gapped up from $15.70 to $16.54 prior to market opening, trading at a volume of 785 shares.
• Analyst ratings reflect a downgrade from a "moderate buy" to a "hold" by CLSA, contributing to an overall average rating of "Hold" for the stock.
• In its latest quarterly earnings report, Asahi Kasei reported earnings per share of $0.45, exceeding expectations, but fell short on revenue with $4.96 billion against a $5.15 billion consensus estimate.

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $15.70, but opened at $16.54. Asahi Kasei shares last traded at $16.54, with a volume of 785 shares trading hands.

Analysts Set New Price Targets

Separately, CLSA lowered Asahi Kasei from a "moderate buy" rating to a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Asahi Kasei currently has a consensus rating of "Hold".

Asahi Kasei Stock Up 2.5%

The company has a market cap of $11.62 billion, a price-to-earnings ratio of 14.37 and a beta of 0.46. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $15.33 and a two-hundred day simple moving average of $14.32.

Asahi Kasei (OTCMKTS:AHKSY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.18. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.15 billion. Asahi Kasei had a net margin of 3.95% and a return on equity of 7.48%.

Asahi Kasei Company Profile

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.