Denso (OTCMKTS:DNZOY) Share Price Passes Above 50-Day Moving Average – Here’s Why

Denso Corp. (OTCMKTS:DNZOY) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $11.95 and traded as high as $12.00. Denso shares last traded at $11.96, with a volume of 115,130 shares.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded Denso from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Denso currently has a consensus rating of “Hold”.

Denso Stock Down 3.9%

The company has a market cap of $33.51 billion, a price-to-earnings ratio of 10.76 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.28 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $11.94 and a two-hundred day moving average of $12.94.

Denso (OTCMKTS:DNZOY) last released its quarterly earnings results on Monday, April 27th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $11.85 billion. Denso had a return on equity of 8.29% and a net margin of 5.82%. As a group, equities analysts anticipate that Denso Corp. will post 0.95 EPS for the current fiscal year.

Denso Company Profile

Denso Corporation (OTCMKTS: DNZOY) is a global supplier of automotive technology, systems and components headquartered in Kariya, Aichi Prefecture, Japan. The company designs, manufactures and supplies a wide range of parts and systems for original equipment manufacturers (OEMs) and the aftermarket. Denso’s offerings span thermal systems, powertrain control, electrification components, electronic modules, sensors and actuators, and vehicle safety and driver assistance technologies.

Key product areas include climate control and HVAC components, radiators and heat exchangers, engine and fuel-management systems, starters and alternators, electronic control units (ECUs), sensors, and a growing portfolio of electrification products such as inverters, battery-management systems and charging components.