Asahi Kasei (OTCMKTS:AHKSY) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Asahi Kasei (OTCMKTS:AHKSY) announced its quarterly earnings results on Thursday. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07, Zacks reports. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Asahi Kasei had a net margin of 6.10% and a return on equity of 8.58%.

Asahi Kasei Stock Down 2.6%

Shares of OTCMKTS:AHKSY opened at $19.06 on Friday. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 11.51 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.01 and a quick ratio of 1.12. The company has a 50 day moving average of $20.39 and a 200-day moving average of $21.02. Asahi Kasei has a one year low of $16.00 and a one year high of $24.12.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group downgraded Asahi Kasei from a “buy” rating to a “hold” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Asahi Kasei Company Profile

Asahi Kasei Corp. is a diversified Japanese company with operations spanning materials, homes and health care. Its materials businesses provide products such as engineering plastics, synthetic rubber, coatings materials, electronic materials, separators for lithium-ion batteries and other performance materials used in automotive, consumer, industrial and technology applications.

Through its homes operations, Asahi Kasei develops and builds residential properties, offers housing-related services and produces construction materials.