Hoya (OTCMKTS:HOCPY) Shares Gap Down - What's Next?

Key Points

• Hoya Corp. shares gapped down to $139.60 at the open after closing at $144.75, with recent trading volume at 2,548 shares.
• Multiple analysts have upgraded Hoya to a strong-buy rating, contributing to a consensus of strong buy for the stock.
• The company's latest earnings report showed an EPS of $1.05, exceeding expectations, with revenues of $1.53 billion for the quarter.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $144.75, but opened at $139.60. Hoya shares last traded at $139.53, with a volume of 2,548 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HOCPY. The Goldman Sachs Group upgraded Hoya from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Nomura Securities upgraded Hoya to a "strong-buy" rating in a report on Monday, August 18th. Three analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Hoya currently has an average rating of "Strong Buy".

Hoya Trading Up 2.5%

The business's 50 day simple moving average is $131.68 and its 200 day simple moving average is $121.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.19 and a quick ratio of 4.46. The stock has a market cap of $49.07 billion, a P/E ratio of 34.89, a PEG ratio of 2.98 and a beta of 0.94.

Hoya (OTCMKTS:HOCPY - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. Hoya had a return on equity of 21.01% and a net margin of 23.57%.The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.47 billion. On average, analysts expect that Hoya Corp. will post 3.66 earnings per share for the current fiscal year.

Hoya Company Profile

HOYA Corporation, a med-tech company, provides high-tech and medical products worldwide. It operates through three segments: Life Care, Telecommunication, and Other. The company offers life care products, including eyeglass and contact lenses; medical endoscopes; intraocular lenses; laparoscopic surgical instruments; automatic endoscope cleaning equipment; and other medical related products, such as prosthetic ceramic fillers and metallic implants for orthopedics.