SoftBank Group (OTCMKTS:SFTBY) Cut to Neutral at New Street Research

New Street Research downgraded shares of SoftBank Group (OTCMKTS:SFTBY) from a buy rating to a neutral rating in a research report released on Thursday morning, Marketbeat reports.

SoftBank Group Trading Down 2.7%

SFTBY opened at $63.13 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.82 and a current ratio of 0.84. The business has a 50 day moving average of $51.07 and a 200-day moving average of $35.98. SoftBank Group has a 52 week low of $19.86 and a 52 week high of $64.95.

SoftBank Group (OTCMKTS:SFTBY) last released its earnings results on Thursday, August 7th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.74. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.24 billion. SoftBank Group had a return on equity of 12.80% and a net margin of 23.99%. As a group, research analysts predict that SoftBank Group will post 2.22 earnings per share for the current fiscal year.

About SoftBank Group

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.