SMC (OTCMKTS:SMCAY) Sees Large Volume Increase - Here's What Happened

Key Points

• SMCAY trading volume surged 168% above its average on Wednesday, with about 818,742 shares traded; shares last changed hands at $19.80, up slightly from the prior close of $19.72.
• Zacks Research downgraded SMC from “strong buy” to “hold.” Overall, one analyst rates the stock Buy and two rate it Hold, giving it an average Hold rating.
• SMC’s latest reported quarter beat expectations: earnings were $0.33 per share versus $0.23 expected, and revenue was $1.70 billion versus $1.54 billion expected.

Smc Corporation (OTCMKTS:SMCAY - Get Free Report) shares saw unusually-strong trading volume on Wednesday. Approximately 818,742 shares were traded during trading, an increase of 168% from the average daily volume of 305,762 shares. The stock last traded at $19.80 and had previously closed at $19.72.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of SMC from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

SMC Price Performance

The firm has a market cap of $25.33 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. The company's 50 day moving average price is $21.69 and its 200 day moving average price is $21.91.

SMC (OTCMKTS:SMCAY - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. SMC had a net margin of 21.94% and a return on equity of 9.40%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.54 billion. Sell-side analysts expect that Smc Corporation will post 1.06 earnings per share for the current fiscal year.

SMC Company Profile

SMC Corporation, traded over the counter in the United States under the symbol SMCAY, is a Japan-based manufacturer of pneumatic and automation equipment. The company develops products used to control, regulate, and move compressed air and other fluids in industrial production systems.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors, switches, and related control components. SMC also offers electric actuators, temperature-control products, and systems designed for automated material handling and process control.

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