Samsonite Group (OTCMKTS:SMSEY) Sees Large Volume Increase - Here's What Happened

Key Points

• Samsonite Group experienced a significant increase in trading volume, with 91,237 shares exchanged, marking a 77% rise from the previous trading session.
• Zacks Research upgraded the company's rating from a "strong sell" to a "hold," reflecting improved market sentiment, with an average rating of "Buy" from analysts.
• For its last quarter, Samsonite reported $865 million in revenue and $0.25 earnings per share, exceeding analysts' expectations.

Samsonite Group S.A. (OTCMKTS:SMSEY - Get Free Report) shares saw strong trading volume on Tuesday . 91,237 shares traded hands during mid-day trading, an increase of 77% from the previous session's volume of 51,574 shares.The stock last traded at $10.78 and had previously closed at $10.82.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Samsonite Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

Samsonite Group Stock Up 0.4%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.70 and a current ratio of 1.13. The firm has a fifty day simple moving average of $10.72 and a 200-day simple moving average of $10.03. The company has a market capitalization of $3.01 billion, a PE ratio of 10.44 and a beta of 0.70.

Samsonite Group (OTCMKTS:SMSEY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.25 earnings per share for the quarter. Samsonite Group had a return on equity of 20.98% and a net margin of 8.46%.The business had revenue of $865.00 million during the quarter, compared to the consensus estimate of $863.00 million. Equities research analysts anticipate that Samsonite Group S.A. will post 1.15 EPS for the current fiscal year.

Samsonite Group Company Profile

Samsonite International SA engages in the design, manufacture, sourcing, and distribution of travel luggage bags in North America, Asia, Europe, and Latin America. The company offers luggage, business, computer, outdoor, casual, and women's bags; and travel accessories and slim protective cases for personal electronic devices primarily under the Samsonite, Tumi, American Tourister, Speck, High Sierra, Gregory, Lipault, Kamiliant, Hartmann, and eBags brands, as well as other owned and licensed brand names.

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.