SoftBank Group (OTCMKTS:SFTBY) Reaches New 1-Year High - Here's Why

Key Points

• SoftBank Group Corp. reached a new 52-week high, trading as high as $84.99 after a significant increase of 7.4% in its stock price.
• New Street Research downgraded SoftBank shares from a "buy" rating to a "neutral" rating, resulting in an average stock rating of "Hold" among analysts.
• The company reported $1.02 earnings per share for the last quarter, significantly exceeding the consensus estimate of $0.28, with revenue also surpassing expectations.

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $84.99 and last traded at $83.76, with a volume of 714069 shares. The stock had previously closed at $77.99.

Wall Street Analyst Weigh In

Separately, New Street Research downgraded shares of SoftBank Group from a "buy" rating to a "neutral" rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, SoftBank Group currently has an average rating of "Hold".

SoftBank Group Trading Up 7.4%

The company's fifty day simple moving average is $60.70 and its 200-day simple moving average is $41.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a market capitalization of $246.25 billion, a PE ratio of 20.68 and a beta of 1.31.

SoftBank Group (OTCMKTS:SFTBY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.74. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.24 billion. SoftBank Group had a net margin of 23.99% and a return on equity of 12.80%. As a group, sell-side analysts expect that SoftBank Group Corp. Unsponsored ADR will post 2.22 earnings per share for the current fiscal year.

SoftBank Group Company Profile

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.

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.