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

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)'s share price 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.

Wall Street Analyst Weigh In

Separately, Macquarie upgraded 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. According to data from MarketBeat.com, Disco has a consensus rating of "Buy".

Disco Stock Performance

The firm has a fifty day moving average price of $28.07 and a 200 day moving average price of $24.44. The stock has a market cap of $32.72 billion, a PE ratio of 40.23 and a beta of 1.44.

Disco (OTCMKTS:DSCSY - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Disco had a return on equity of 26.62% and a net margin of 30.90%.The firm had revenue of $622.39 million during the quarter, compared to analyst estimates of $575.52 million. On average, equities research analysts forecast that Disco Corp will post 0.7 earnings per share for the current year.

About Disco

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.