SMC (OTCMKTS:SMCAY) Shares Gap Down – Here’s Why

Smc Corporation (OTCMKTS:SMCAY) gapped down before the market opened on Wednesday . The stock had previously closed at $21.63, but opened at $20.59. SMC shares last traded at $21.2250, with a volume of 13,206 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SMCAY shares. Jefferies Financial Group raised shares of SMC from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Zacks Research raised SMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group lowered SMC from a “strong-buy” rating to a “neutral” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

SMC Stock Performance

The company’s 50 day simple moving average is $22.28 and its 200 day simple moving average is $21.96. The stock has a market cap of $26.93 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.46 and a beta of 1.09.

SMC (OTCMKTS:SMCAY) last announced its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.54 billion. SMC had a return on equity of 9.40% and a net margin of 21.94%. Equities research analysts expect that Smc Corporation will post 1.1 earnings per share for the current year.

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.