SoftBank Group (OTCMKTS:SFTBY) Shares Down 6.5% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price traded down 6.5% on Thursday . The company traded as low as $11.08 and last traded at $11.17. 273,255 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,295,101 shares. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

SFTBY has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on SoftBank Group in a research note on Monday, March 9th. They issued an “overweight” rating for the company. Zacks Research upgraded SoftBank Group to a “hold” rating in a research report on Tuesday, March 10th. BTIG Research initiated coverage on SoftBank Group in a research report on Monday, January 5th. They issued a “buy” rating for the company. Jefferies Financial Group downgraded SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Finally, Citigroup initiated coverage on SoftBank Group in a research report on Monday, January 5th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SoftBank Group has a consensus rating of “Hold”.

SoftBank Group Stock Down 5.1%

The firm has a market cap of $129.54 billion, a price-to-earnings ratio of 5.23 and a beta of 1.50. The business has a fifty day simple moving average of $12.89 and a 200 day simple moving average of $14.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.81.

SoftBank Group (OTCMKTS:SFTBY) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. SoftBank Group had a return on equity of 23.66% and a net margin of 48.62%.The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.44 billion. As a group, equities analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 2.22 EPS for the current fiscal year.

SoftBank Group Company Profile

SoftBank Group Corp is a Tokyo‐based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high‐growth technology companies around the globe.