Hoya (OTCMKTS:HOCPY) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Hoya Corp. shares gapped up significantly to $124.19 after reporting better-than-expected earnings, with an EPS of $1.05 that exceeded analysts' estimates.
• The company achieved a revenue of $1.53 billion for the quarter, surpassing the consensus estimate of $1.47 billion.
• Analysts have upgraded Hoya to a "strong-buy" rating, reflecting increased confidence in the company's performance and growth potential.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $116.20, but opened at $124.19. Hoya shares last traded at $124.19, with a volume of 338 shares changing hands.

The technology company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.47 billion. Hoya had a net margin of 23.57% and a return on equity of 21.24%.

Wall Street Analyst Weigh In

HOCPY has been the subject of several recent analyst reports. The Goldman Sachs Group raised Hoya from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Erste Group Bank raised Hoya from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd.

Hoya Trading Up 4.5%

The firm has a 50-day moving average price of $120.61 and a 200-day moving average price of $119.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.21 and a current ratio of 4.90. The stock has a market cap of $45.55 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91.

About Hoya

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.