AB SKF (OTCMKTS:SKFRY) Shares Gap Down on Disappointing Earnings

Shares of AB SKF (OTCMKTS:SKFRY) gapped down before the market opened on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $28.81, but opened at $26.40. AB SKF shares last traded at $26.40, with a volume of 1,254 shares.

The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.41 billion. AB SKF had a net margin of 4.20% and a return on equity of 14.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded AB SKF from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. The Goldman Sachs Group lowered AB SKF from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, January 19th. Zacks Research downgraded shares of AB SKF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Rothschild Redb downgraded shares of AB SKF from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane raised AB SKF to a “hold” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

AB SKF Price Performance

The firm has a market capitalization of $12.39 billion, a PE ratio of 15.33, a P/E/G ratio of 1.71 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.16 and a quick ratio of 1.20. The company has a 50-day moving average price of $26.92 and a 200-day moving average price of $25.82.

AB SKF Company Profile

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.