Swire Pacific (OTCMKTS:SWRAY) Shares Gap Down - Here's What Happened

Key Points

• Swire Pacific's share price opened at $7.99 after closing at $8.28, indicating a gap down prior to trading.
• Zacks Research has downgraded Swire Pacific from a "hold" rating to a "strong sell" rating, contributing to an overall average rating of "sell" for the stock.
• The company will pay a dividend of $0.1463 per share on October 20th, with a remarkable yield of 462.0%.

Swire Pacific Ltd. (OTCMKTS:SWRAY - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $8.28, but opened at $7.99. Swire Pacific shares last traded at $7.99, with a volume of 583 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded Swire Pacific from a "hold" rating to a "strong sell" rating in a research report on Monday. 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".

Swire Pacific Trading Down 0.2%

The firm has a fifty day moving average of $8.77 and a 200 day moving average of $8.68. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 0.24.

Swire Pacific Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.1463 per share. This represents a yield of 462.0%. The ex-dividend date is Thursday, September 11th.

Swire Pacific Company Profile

Swire Pacific Limited engages in property, aviation, beverages, marine, and trading and industrial businesses in Hong Kong, Mainland China, rest of Asia, the United States, and internationally. The company's Property division develops, owns, and operates mixed-use properties. This division's property investment portfolio comprises office and retail premises, serviced apartments, and other luxury residential accommodations; and trading portfolio consists of residential properties.

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