Shin-Etsu Chemical (OTCMKTS:SHECY) Trading 6.3% Higher - Here's What Happened

Key Points

• Shin-Etsu Chemical shares increased by 6.3% to a trading price of $15.86, although the trading volume saw a significant decline of 99% from the average.
• Zacks Research downgraded the company’s stock rating from a "hold" to a "strong sell", with the average rating now classified as a "Sell".
• The company reported earnings of $0.22 per share for the previous quarter, exceeding analyst expectations, with projected earnings of $0.86 per share for the current fiscal year.

Shin-Etsu Chemical Co. (OTCMKTS:SHECY - Get Free Report) shares traded up 6.3% during mid-day trading on Tuesday . The stock traded as high as $15.86 and last traded at $15.86. 4,728 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 514,303 shares. The stock had previously closed at $14.92.

Wall Street Analyst Weigh In

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Shin-Etsu Chemical presently has an average rating of "Sell".

Shin-Etsu Chemical Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 6.48 and a quick ratio of 4.81. The stock has a 50 day simple moving average of $15.31 and a two-hundred day simple moving average of $15.19. The company has a market cap of $62.21 billion, a PE ratio of 17.81 and a beta of 1.36.

Shin-Etsu Chemical (OTCMKTS:SHECY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.22 earnings per share 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%. Equities analysts predict that Shin-Etsu Chemical Co. will post 0.86 EPS 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.