KDDI (OTCMKTS:KDDIY) Shares Gap Down - Here's What Happened

Key Points

• KDDI Corporation shares gapped down from a previous close of $17.60 to an opening price of $16.67, with a trading volume of 53,075 shares.
• Zacks Research downgraded KDDI's rating from "strong-buy" to "hold," while the average consensus rating remains a "Buy" with one strong buy rating still in place.
• In its most recent earnings report, KDDI missed consensus estimates by posting an EPS of $0.30 against an expected $0.33, with a revenue of $9.54 billion against a projected $9.99 billion.

KDDI Corporation Unsponsored ADR (OTCMKTS:KDDIY - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $17.60, but opened at $16.67. KDDI shares last traded at $16.67, with a volume of 53,075 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of KDDI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy".

KDDI Price Performance

The firm's 50 day moving average price is $17.01 and its two-hundred day moving average price is $16.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.58 and a quick ratio of 0.57. The stock has a market cap of $72.24 billion, a PE ratio of 17.08 and a beta of 0.07.

KDDI (OTCMKTS:KDDIY - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). KDDI had a return on equity of 10.87% and a net margin of 10.71%.The business had revenue of $9.54 billion during the quarter, compared to the consensus estimate of $9.99 billion. On average, research analysts expect that KDDI Corporation Unsponsored ADR will post 1.11 earnings per share for the current year.

About KDDI

KDDI Corporation provides telecommunications services in Japan and internationally. It operates in two segments, Personal Services and Business Services. The Personal Services segment offers telecommunication services and other services such as finance, energy, and LX through its multi-brands au, UQ mobile, and povo.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.