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

Shares of Smc Corporation (OTCMKTS:SMCAY) gapped down prior to trading on Wednesday. The stock had previously closed at $23.08, but opened at $21.92. SMC shares last traded at $22.7550, with a volume of 1,099 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of SMC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

SMC Price Performance

The company has a market capitalization of $27.44 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.54 and a beta of 1.11. The stock has a 50 day simple moving average of $22.49 and a two-hundred day simple moving average of $22.20.

SMC (OTCMKTS:SMCAY) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $1.70 billion during 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 predict that Smc Corporation will post 1.10 EPS for the current year.

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of pneumatic and industrial automation equipment. The company develops products used to control, move and regulate compressed air and other gases in manufacturing and process applications.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and temperature-control systems. These products support factory automation and are used across industries such as automotive, electronics, semiconductor manufacturing, packaging, food processing and general industrial production.

Founded in Japan in 1959, SMC has expanded from its domestic base into an international business serving customers through subsidiaries, sales offices and distribution networks across Asia, Europe, North America and other regions.