KDDI (OTCMKTS:KDDIY) Shares Gap Up - Here's Why

Key Points

• KDDI Corporation's shares gapped up from a closing price of $15.83 to an opening price of $16.49 before market opening on Wednesday.
• Zacks Research downgraded KDDI's rating from "strong-buy" to "hold", resulting in a consensus rating of "Hold" among analysts.
• The company reported a quarterly earnings miss with $0.30 EPS against the estimated $0.33 EPS and a revenue of $9.54 billion compared to expectations of $9.99 billion.

KDDI Corporation Unsponsored ADR (OTCMKTS:KDDIY - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $15.83, but opened at $16.49. KDDI shares last traded at $15.87, with a volume of 102,967 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of KDDI from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

KDDI Stock Performance

The firm has a market cap of $66.21 billion, a price-to-earnings ratio of 15.65 and a beta of 0.12. The stock's 50 day moving average is $17.06 and its 200 day moving average is $17.00. The company has a current ratio of 0.58, a quick ratio of 0.57 and a debt-to-equity ratio of 0.39.

KDDI (OTCMKTS:KDDIY - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.03). KDDI had a net margin of 10.71% and a return on equity of 10.87%. The company had revenue of $9.54 billion during the quarter, compared to analyst estimates of $9.99 billion. Analysts anticipate 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.

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