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

Key Points

• Shin-Etsu Chemical's shares gapped down from a previous close of $15.39 to open at $14.96, with the latest trading price at $15.63.
• Zacks Research downgraded the stock from a "hold" to a "strong sell" rating, contributing to an overall average rating of "sell" for the company.
• The company reported a quarterly earnings per share (EPS) of $0.22, exceeding expectations by $0.01, with total revenue of $4.35 billion for the quarter.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $15.39, but opened at $14.96. Shin-Etsu Chemical shares last traded at $15.63, with a volume of 27,289 shares trading hands.

Analyst Upgrades and Downgrades

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

Shin-Etsu Chemical Price Performance

The stock's 50-day simple moving average is $15.31 and its two-hundred day simple moving average is $15.19. The company has a market capitalization of $63.40 billion, a price-to-earnings ratio of 18.15 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.

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 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 firm had revenue of $4.35 billion during the quarter. Equities research analysts predict 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.