SMC (OTCMKTS:SMCAY) Shares Gap Up – Here’s What Happened

Smc Corporation (OTCMKTS:SMCAY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $21.23, but opened at $22.20. SMC shares last traded at $22.4965, with a volume of 33,420 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. The Goldman Sachs Group cut SMC from a “strong-buy” rating to a “neutral” rating in a research report on Thursday, May 28th. Finally, Zacks Research raised SMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

SMC Price Performance

The firm’s 50-day simple moving average is $22.44 and its two-hundred day simple moving average is $22.08. The company has a market capitalization of $27.41 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09.

SMC (OTCMKTS:SMCAY) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.54 billion. SMC had a net margin of 21.94% and a return on equity of 9.40%. On average, analysts expect that Smc Corporation will post 1.1 EPS for the current fiscal year.

About SMC

SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.