AB SKF (OTCMKTS:SKFRY) Shares Gap Down – Here’s Why

AB SKF (OTCMKTS:SKFRY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.78, but opened at $26.95. AB SKF shares last traded at $26.91, with a volume of 1,887 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on SKFRY. BNP Paribas raised AB SKF to a “hold” rating in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of AB SKF from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. Zacks Research cut AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, The Goldman Sachs Group cut shares of AB SKF from a “strong-buy” rating to a “strong sell” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

AB SKF Stock Up 3.2%

The company has a market capitalization of $12.42 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 2.84 and a beta of 1.13. The firm’s 50-day simple moving average is $26.37 and its 200 day simple moving average is $25.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.20 and a current ratio of 2.16.

AB SKF (OTCMKTS:SKFRY) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. AB SKF had a net margin of 5.07% and a return on equity of 14.26%. As a group, equities research analysts forecast that AB SKF will post 1.51 earnings per share for the current year.

About AB SKF

AB SKF (OTCMKTS:SKFRY) is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company’s products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world’s first self-aligning ball bearing and has since grown into a truly global organization.