Shin-Etsu Chemical (OTCMKTS:SHECY) Shares Gap Down - Here's Why

Key Points

• Shin-Etsu Chemical's shares gapped down from $15.92 to $15.35 at market open, following a downgrade from Zacks Research from a "hold" to a "strong sell" rating.
• Despite the downgrade, the company reported $0.22 earnings per share, exceeding the consensus estimate of $0.21, with total revenue of $4.35 billion for the quarter.
• The company's market capitalization is approximately $63.32 billion, with strong financial ratios including a debt-to-equity ratio of 0.06 and a current ratio of 6.48.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $15.92, but opened at $15.35. Shin-Etsu Chemical shares last traded at $15.92, with a volume of 28,199 shares trading hands.

Wall Street Analysts Forecast Growth

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

Shin-Etsu Chemical Stock Up 0.2%

The company's fifty day moving average is $15.32 and its 200-day moving average is $15.20. The company has a market capitalization of $63.32 billion, a PE ratio of 18.13 and a beta of 1.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.81 and a current ratio of 6.48.

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

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.