Shin-Etsu Chemical (OTCMKTS:SHECY) Shares Cross Above 50-Day Moving Average – Here’s Why

Shin-Etsu Chemical Co. (OTCMKTS:SHECY)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $22.14 and traded as high as $22.19. Shin-Etsu Chemical shares last traded at $21.90, with a volume of 240,413 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Shin-Etsu Chemical to a “hold” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Shin-Etsu Chemical Stock Up 3.3%

The company’s 50-day moving average is $22.17 and its 200 day moving average is $19.03. The company has a market capitalization of $89.80 billion, a PE ratio of 26.93 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.66 and a current ratio of 6.26.

Shin-Etsu Chemical (OTCMKTS:SHECY) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.17 EPS for the quarter. Shin-Etsu Chemical had a net margin of 18.50% and a return on equity of 10.67%. The company had revenue of $4.08 billion for the quarter. As a group, analysts anticipate that Shin-Etsu Chemical Co. will post 0.93 EPS for the current year.

About Shin-Etsu Chemical

Shin-Etsu Chemical is a large Japanese chemical company that manufactures a broad range of basic and specialty chemical products for industrial and technology customers. The company is known for production of polyvinyl chloride (PVC) and related vinyl products, silicones and silicone-based compounds, and high-purity silicon materials used in semiconductor and photovoltaic industries. Its product mix spans commodity chemicals for construction and plumbing as well as higher-margin specialty materials for electronics and precision manufacturing.

Key product lines include PVC resins and compounds for infrastructure and building applications; silicones and silicone elastomers used across automotive, healthcare and consumer markets; and semiconductor-grade silicon and silicon wafers that supply chipmakers and solar-cell manufacturers.