Shin-Etsu Chemical (OTCMKTS:SHECY) Share Price Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Shin-Etsu Chemical's share price has recently crossed above its 50-day moving average of $15.34, reaching a high of $16.53 during trading.
• The company received a downgrade from Zacks Research, moving from a "hold" rating to a "strong sell" rating, reflecting negative sentiment among analysts.
• Shin-Etsu reported a quarterly earnings per share (EPS) of $0.22, which beat the analyst consensus estimate of $0.21, with revenues amounting to $4.35 billion.

Shares of Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.34 and traded as high as $16.53. Shin-Etsu Chemical shares last traded at $16.30, with a volume of 167,507 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Shin-Etsu Chemical from a "hold" rating to a "strong sell" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

Shin-Etsu Chemical Trading Up 0.4%

The stock has a market cap of $64.71 billion, a price-to-earnings ratio of 18.52 and a beta of 1.36. The company has a quick ratio of 4.81, a current ratio of 6.48 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $15.34 and a 200-day moving average of $15.23.

Shin-Etsu Chemical (OTCMKTS:SHECY - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $4.35 billion during the quarter. Shin-Etsu Chemical had a return on equity of 10.90% and a net margin of 19.94%. As a group, research analysts forecast that Shin-Etsu Chemical Co. will post 0.86 earnings per share for the current year.

Shin-Etsu Chemical Company Profile

Shin-Etsu Chemical Co, Ltd. provides infrastructure, electronics, and functional materials in Japan. It is also involved in processing and specialized related services. The company operates through Infrastructure Materials; Electronics Materials; Functional Materials; and Processing and Specialized Services segments.

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