Kawasaki Heavy Industries (OTCMKTS:KWHIY) Shares Gap Down Following Weak Earnings

Kawasaki Heavy Industries Ltd. (OTCMKTS:KWHIY) gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $7.25, but opened at $6.79. Kawasaki Heavy Industries shares last traded at $6.81, with a volume of 8,068 shares changing hands.

The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. Kawasaki Heavy Industries had a net margin of 4.74% and a return on equity of 13.40%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group downgraded Kawasaki Heavy Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Kawasaki Heavy Industries has an average rating of “Hold”.

Kawasaki Heavy Industries Stock Down 6.1%

The firm has a market capitalization of $14.93 billion, a P/E ratio of 19.46 and a beta of 0.75. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.73 and a current ratio of 1.15. The business’s fifty day moving average price is $7.09 and its two-hundred day moving average price is $20.51.

About Kawasaki Heavy Industries

Kawasaki Heavy Industries, Ltd. (OTCMKTS: KWHIY) is a diversified Japanese conglomerate with core operations in shipbuilding, rolling stock, industrial machinery, aerospace and energy systems. The company traces its roots to 1896 when founder Shozo Kawasaki established a shipyard in Kobe, Japan. Today, the firm is headquartered in Kobe and Tokyo and is recognized as one of the world’s leading manufacturers of heavy equipment and engineering solutions.

In its marine division, Kawasaki Heavy Industries designs and constructs a broad range of vessels including LNG carriers, container ships and offshore support platforms.