Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – Here’s Why

Nitto Denko Corp. (OTCMKTS:NDEKY) gapped down before the market opened on Monday. The stock had previously closed at $21.64, but opened at $20.57. Nitto Denko shares last traded at $21.03, with a volume of 445 shares traded.

Nitto Denko Trading Down 1.1%

The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 15.74 and a beta of 0.83. The stock’s 50 day moving average price is $22.03 and its two-hundred day moving average price is $21.08.

Nitto Denko (OTCMKTS:NDEKY) last announced its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.87 billion. On average, sell-side analysts forecast that Nitto Denko Corp. will post 1.30 earnings per share for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.