Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up - Should You Buy?

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.

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) gapped up before the market opened 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.

Analyst Ratings Changes

Separately, CLSA downgraded shares of Asahi Kasei from a "moderate buy" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Asahi Kasei Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 1.09. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of 14.25 and a beta of 0.45. The business's 50-day moving average price is $15.13 and its two-hundred day moving average price is $14.25.

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

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.

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