Asahi Kasei (OTCMKTS:AHKSY) Shares Down 4.9% - Should You Sell?

Key Points

• Asahi Kasei's stock dropped 4.9% on Friday, closing at $15.60, significantly lower than its previous close of $16.41.
• Analysts from CLSA have downgraded Asahi Kasei's rating from "moderate buy" to "hold," contributing to the current consensus rating of "Hold."
• In its last earnings report, Asahi Kasei reported earnings per share of $0.45, exceeding estimates, but revenue was under consensus at $4.96 billion.

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) traded down 4.9% during trading on Friday . The company traded as low as $15.60 and last traded at $15.60. 3,818 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 32,879 shares. The stock had previously closed at $16.41.

Wall Street Analysts Forecast Growth

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

Asahi Kasei Price Performance

The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 13.86 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 company's 50-day moving average price is $15.18 and its 200-day moving average price is $14.27.

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

About Asahi Kasei

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.