Sandvik (OTCMKTS:SDVKY) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Sandvik (OTCMKTS:SDVKY) issued its quarterly earnings data on Thursday. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02, Zacks reports. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.70 billion. Sandvik had a return on equity of 20.30% and a net margin of 13.85%.

Sandvik Stock Up 2.1%

SDVKY opened at $34.84 on Friday. Sandvik has a 12 month low of $28.71 and a 12 month high of $44.53. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $38.07 and its 200-day moving average price is $39.35. The company has a market cap of $43.70 billion, a P/E ratio of 21.37, a P/E/G ratio of 0.83 and a beta of 1.51.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Berenberg Bank raised Sandvik to a “hold” rating in a report on Thursday, August 27th. Morgan Stanley raised shares of Sandvik to an “overweight” rating in a research note on Monday. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Nordea Equity Research raised shares of Sandvik from a “hold” rating to a “buy” rating in a report on Friday. Finally, Pareto Securities upgraded shares of Sandvik from a “hold” rating to a “buy” rating in a research report on Thursday. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

About Sandvik

Sandvik AB is a Sweden-based global engineering group that develops and manufactures equipment, tools and digital solutions for the mining, construction and manufacturing industries. Founded in 1862, the company has evolved from a steel producer into a specialized industrial technology business headquartered in Stockholm, Sweden.

Its Mining and Rock Solutions business provides underground and surface mining equipment, rock tools, drilling systems, automation technologies and related services.