Shin-Etsu Chemical (OTCMKTS:SHECY) Shares Down 3.1% - Here's What Happened

Key Points

• Shin-Etsu Chemical's stock fell 3.1% to $15.65 with trading volume declining by 94% from average levels.
• Zacks Research downgraded the company's rating from "hold" to "strong sell", contributing to the overall negative sentiment.
• The company reported an EPS of $0.23 for the last quarter, with analysts projecting $0.86 EPS for the current year.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report)'s stock price fell 3.1% during mid-day trading on Friday . The stock traded as low as $15.60 and last traded at $15.65. 29,955 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 477,238 shares. The stock had previously closed at $16.15.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut Shin-Etsu Chemical from a "hold" rating to a "strong sell" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Shin-Etsu Chemical Stock Performance

The firm has a 50-day moving average of $15.83 and a two-hundred day moving average of $15.48. 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 company has a market capitalization of $62.37 billion, a PE ratio of 17.85 and a beta of 1.42.

Shin-Etsu Chemical (OTCMKTS:SHECY - Get Free Report) last issued its quarterly earnings data on Friday, October 24th. The basic materials company reported $0.23 EPS for the quarter. Shin-Etsu Chemical had a return on equity of 10.90% and a net margin of 19.94%. Research analysts anticipate that Shin-Etsu Chemical Co. will post 0.86 EPS for the current year.

About Shin-Etsu Chemical

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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