Obic (OTCMKTS:OBIIF) Shares Gap Up on Strong Earnings

Shares of Obic Co (OTCMKTS:OBIIF) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $22.4790, but opened at $25.32. Obic shares last traded at $25.32, with a volume of 100,000 shares changing hands.

The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Obic had a net margin of 55.67% and a return on equity of 15.43%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Obic to a “hold” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Obic Price Performance

The company has a fifty day simple moving average of $23.60 and a two-hundred day simple moving average of $25.87. The company has a market capitalization of $11.05 billion, a P/E ratio of 22.21 and a beta of 0.68.

About Obic

Obic (OTCMKTS:OBIIF) is a Tokyo‐based technology company founded in 1978 that specializes in the development and deployment of enterprise resource planning (ERP) software and related IT services. The company’s core offerings include integrated management systems for finance, production, distribution and human resources, which are delivered either through on‐premise installations or via cloud‐based platforms. Obic’s software suite is designed to help businesses streamline operations, improve data visibility and support decision‐making across various functional areas.

In addition to its ERP solutions, Obic provides a range of professional services such as system integration, consulting, customization and ongoing technical support.