Mercedes-Benz Group (OTCMKTS:MBGYY) Shares Gap Down - Here's Why

Key Points

• Mercedes-Benz shares fell sharply at the open, dropping from a previous close of C$11.47 to C$11.04 before last trading at C$11.06.
• Analyst sentiment has improved, with DBS Bank and Zacks Research upgrading the stock to “Hold” and Jefferies raising it to “Strong Buy.” Overall, four analysts rate it Strong Buy and two rate it Hold, producing an average “Buy” rating.
• The company reported C$0.33 in quarterly EPS on C$37.27 billion in revenue, while its shares trade at a 7.15 price-to-earnings ratio and remain below their 50-day and 200-day moving averages.

Mercedes-Benz Group AG (OTCMKTS:MBGYY - Get Free Report) shares gapped down prior to trading on Tuesday. The stock had previously closed at C$11.47, but opened at C$11.04. Mercedes-Benz Group shares last traded at C$11.06, with a volume of 60,737 shares trading hands.

Analyst Upgrades and Downgrades

MBGYY has been the subject of a number of research analyst reports. Dbs Bank upgraded Mercedes-Benz Group from a "moderate sell" rating to a "hold" rating in a report on Wednesday, September 30th. Zacks Research upgraded Mercedes-Benz Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Finally, Jefferies Financial Group upgraded Mercedes-Benz Group from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Mercedes-Benz Group Price Performance

The stock has a market cap of C$42.69 billion, a PE ratio of 7.15 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.32 and a debt-to-equity ratio of 0.67. The company's fifty day moving average is C$12.32 and its 200 day moving average is C$14.32.

Mercedes-Benz Group (OTCMKTS:MBGYY - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.33 earnings per share (EPS) for the quarter. Mercedes-Benz Group had a net margin of 3.89% and a return on equity of 5.41%. The company had revenue of C$37.27 billion during the quarter. As a group, sell-side analysts anticipate that Mercedes-Benz Group AG will post 1.35 earnings per share for the current fiscal year.

Mercedes-Benz Group Company Profile

Mercedes-Benz Group AG is a Germany-based automotive company headquartered in Stuttgart. Formerly known as Daimler AG, the company adopted its current name in February 2022 after reorganizing its business around the Mercedes-Benz brand and related mobility activities.

The company develops, manufactures and sells premium passenger cars and luxury vehicles under the Mercedes-Benz, Mercedes-AMG and Mercedes-Maybach brands. Its product range includes sedans, SUVs, coupes, convertibles and electric vehicles.

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