SoftBank Group (OTCMKTS:SFTBY) Shares Down 7.8% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) dropped 7.8% during trading on Thursday . The company traded as low as $18.09 and last traded at $18.12. Approximately 169,277 shares traded hands during trading, a decline of 93% from the average daily volume of 2,349,938 shares. The stock had previously closed at $19.65.

Wall Street Analysts Forecast Growth

SFTBY has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of SoftBank Group in a research note on Monday, March 9th. They set an “overweight” rating for the company. Zacks Research raised shares of SoftBank Group to a “hold” rating in a research note on Tuesday, March 10th. Jefferies Financial Group downgraded shares of SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Finally, TD Cowen reaffirmed a “hold” rating on shares of SoftBank Group in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

SoftBank Group Stock Performance

The stock’s 50-day moving average is $14.14 and its 200-day moving average is $14.54. The stock has a market cap of $203.34 billion, a price-to-earnings ratio of 6.14 and a beta of 1.70. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

SoftBank Group (OTCMKTS:SFTBY) last posted its earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.86. The firm had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $12.54 billion. SoftBank Group had a net margin of 64.12% and a return on equity of 30.38%. On average, analysts expect that SoftBank Group Corp. Unsponsored ADR will post 0.05 EPS for the current year.

About SoftBank Group

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.