Kone Oyj (OTCMKTS:KNYJY) Share Price Breaks Below 200-Day Moving Average After Earnings Miss

Key Points

• Kone Oyj shares fell below their 200-day moving average after trading as low as $30.10, compared with the average of $31.26.
• The company reported quarterly earnings per share of $0.30, missing analysts’ consensus estimate of $0.31.
• Analyst sentiment weakened as Zacks Research downgraded the stock to “strong sell”; the broader analyst consensus remains “Hold.”

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock has a two hundred day moving average of $31.26 and traded as low as $30.10. Kone Oyj shares last traded at $30.3450, with a volume of 59,613 shares.

The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.01). Kone Oyj had a return on equity of 38.87% and a net margin of 8.33%.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Kone Oyj from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold".

Kone Oyj Stock Down 3.3%

The company has a market cap of $27.50 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 2.05 and a beta of 0.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.83. The firm has a 50-day moving average price of $29.74 and a 200 day moving average price of $31.26.

Kone Oyj Company Profile

KONE Oyj is a Finland-based company that designs, manufactures, installs, modernizes and maintains elevators, escalators and automatic building doors. Its solutions are used in residential, commercial, infrastructure and public buildings, with a focus on improving the movement of people within buildings and urban environments.

The company provides new equipment as well as maintenance and modernization services for existing installations. Its offerings also include digital and connected solutions intended to support equipment monitoring, predictive maintenance, access management and smoother passenger flows.

Founded in 1910, KONE is headquartered in Espoo, Finland, and serves customers internationally across Europe, the Middle East and Africa, the Americas, and the Asia-Pacific region, including Greater China.

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