Disco (OTCMKTS:DSCSY) Shares Gap Down - Here's Why

Key Points

• Disco Corp (OTCMKTS:DSCSY) experienced a gap down in share price, opening at $31.80 after closing at $33.42.
• Analysts upgraded Disco's stock rating from "hold" to "strong-buy", with the average rating currently at "Buy".
• The company reported earnings of $0.15 per share, exceeding analyst expectations, and generated revenue of $622.39 million for the quarter.

Disco Corp (OTCMKTS:DSCSY - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $33.42, but opened at $31.80. Disco shares last traded at $31.29, with a volume of 9,158 shares.

Analysts Set New Price Targets

Separately, Macquarie raised shares of Disco from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

Disco Stock Performance

The business's fifty day moving average price is $28.47 and its two-hundred day moving average price is $24.93. The stock has a market capitalization of $33.76 billion, a P/E ratio of 41.51 and a beta of 1.44.

Disco (OTCMKTS:DSCSY - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. Disco had a net margin of 30.90% and a return on equity of 26.62%. The firm had revenue of $622.39 million for the quarter, compared to the consensus estimate of $575.52 million. As a group, analysts forecast that Disco Corp will post 0.7 earnings per share for the current year.

Disco Company Profile

Disco Corporation manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally. Its precision machines include dicing saws, laser saws, grinders, polishers, wafer mounters, die separators, surface planers, and waterjet saws. The company also offers precision processing tools, such as dicing blades, grinding wheels, and dry polishing wheels; and other products, such as accessory equipment.

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