DISCO (OTCMKTS:DSCSY) Shares Gap Up - Here's What Happened

Key Points

• DISCO Corp shares gapped up from $26.54 to $28.22 at market opening, and last traded at $28.45 with a volume of 1,144 shares.
• Macquarie upgraded DISCO from a "hold" to a "strong-buy" rating, contributing to an average rating of "Buy" among analysts for the stock.
• The company reported $0.15 earnings per share, exceeding analyst estimates of $0.12, with revenue of $622.39 million against expected $575.52 million.

DISCO CORP (OTCMKTS:DSCSY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $26.54, but opened at $28.22. DISCO shares last traded at $28.45, with a volume of 1,144 shares trading hands.

Analysts Set New Price Targets

Separately, Macquarie raised DISCO from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, DISCO has an average rating of "Buy".

DISCO Price Performance

The stock has a market cap of $30.92 billion, a P/E ratio of 38.02 and a beta of 1.44. The firm's fifty day moving average price is $28.11 and its two-hundred day moving average price is $24.47.

DISCO (OTCMKTS:DSCSY - Get Free Report) last announced 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. The business had revenue of $622.39 million for the quarter, compared to analyst estimates of $575.52 million. DISCO had a return on equity of 26.62% and a net margin of 30.90%. On average, research analysts expect that DISCO CORP will post 0.7 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.