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

Key Points

• Disco Corp (OTCMKTS:DSCSY) opened at $26.12, up from a previous close of $25.21, with a trading volume of 233 shares.
• Macquarie upgraded Disco's rating from "hold" to a "strong-buy", with the average analyst consensus now at "Buy".
• The company posted a quarterly earnings per share of $0.15, exceeding expectations of $0.12, along with revenues of $622.39 million.

DISCO CORP (OTCMKTS:DSCSY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $25.21, but opened at $26.12. DISCO shares last traded at $26.12, with a volume of 233 shares trading hands.

Analysts Set New Price Targets

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

DISCO Price Performance

The company's 50 day simple moving average is $28.29 and its 200 day simple moving average is $24.52. The stock has a market cap of $28.00 billion, a P/E ratio of 34.43 and a beta of 1.44.

DISCO (OTCMKTS:DSCSY - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. DISCO had a net margin of 30.90% and a return on equity of 26.62%. The company had revenue of $622.39 million during the quarter, compared to analyst estimates of $575.52 million. On average, equities research analysts predict 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.