Nitto Denko (OTCMKTS:NDEKY) Upgraded at The Goldman Sachs Group

Key Points

• Nitto Denko has been upgraded from a "hold" rating to a "strong-buy" rating by The Goldman Sachs Group.
• In its latest quarterly earnings report, Nitto Denko reported $0.32 EPS, missing expectations of $0.86, but exceeding revenue estimates at $1.66 billion.
• The company's stock opened at $24.75, with a fifty-two week range of $14.50 to $25.74.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Nitto Denko Price Performance

NDEKY opened at $24.75 on Thursday. The company's 50 day moving average price is $22.71 and its two-hundred day moving average price is $19.85. Nitto Denko has a fifty-two week low of $14.50 and a fifty-two week high of $25.74.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The technology company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.54). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. Equities research analysts predict that Nitto Denko will post 1.23 EPS for the current year.

Nitto Denko Company Profile

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.

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.