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

Key Points

• Disco Corp's shares opened at $29.05 after closing at $27.91, with a last traded price of $28.02 and a total volume of 2,320 shares.
• Analysts upgraded Disco's rating from "hold" to "strong buy", contributing to a consensus rating of "Buy" based on the latest evaluations.
• The company reported a quarterly earnings per share of $0.15, exceeding estimates and demonstrating a net margin of 30.90% and revenue of $622.39 million.

DISCO CORP (OTCMKTS:DSCSY - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $27.91, but opened at $29.05. DISCO shares last traded at $28.02, with a volume of 2,320 shares traded.

Wall Street Analysts Forecast Growth

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

DISCO Stock Performance

The stock has a market cap of $28.92 billion, a P/E ratio of 35.56 and a beta of 1.36. The business has a 50 day simple moving average of $28.13 and a 200-day simple moving average of $24.77.

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