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

Key Points

• Shin-Etsu Chemical's shares gapped up from $15.84 to $16.35 before settling at $16.01, with a trading volume of 2,140 shares.
• Zacks Research downgraded the stock from a "hold" rating to a "strong sell" rating, contributing to its overall average rating of "sell".
• The company reported a revenue of $4.35 billion and an earnings per share (EPS) of $0.22, surpassing the consensus estimate of $0.21.

Shares of Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $15.84, but opened at $16.35. Shin-Etsu Chemical shares last traded at $16.01, with a volume of 2,140 shares traded.

Analyst Ratings Changes

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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Shin-Etsu Chemical Price Performance

The company has a market capitalization of $62.67 billion, a price-to-earnings ratio of 17.94 and a beta of 1.36. The company has a 50-day moving average price of $15.32 and a 200-day moving average price of $15.20. 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 posted 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. The company 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%. On average, equities research analysts expect that Shin-Etsu Chemical Co. will post 0.86 EPS for the current fiscal 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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