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

Key Points

• Shin-Etsu Chemical shares gapped down from $16.61 to $15.86 at market open, before last trading at $16.57.
• Zacks Research downgraded the company from a "hold" to a "strong sell" rating, with the stock currently averaging a "sell" rating from analysts.
• Shin-Etsu reported earnings of $0.22 per share, exceeding analysts' expectations and detailing a revenue of $4.35 billion for the last quarter.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $16.61, but opened at $15.86. Shin-Etsu Chemical shares last traded at $16.57, with a volume of 40,907 shares.

Analyst Upgrades and Downgrades

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

Shin-Etsu Chemical Price Performance

The stock has a 50-day moving average price of $15.66 and a 200 day moving average price of $15.36. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 18.85 and a beta of 1.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.48 and a quick ratio of 4.81.

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

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