Mercedes-Benz Group (OTCMKTS:MBGYY) Shares Gap Down – Here’s What Happened

Mercedes-Benz Group AG (OTCMKTS:MBGYY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at C$12.43, but opened at C$11.84. Mercedes-Benz Group shares last traded at C$11.78, with a volume of 15,005 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on MBGYY. Jefferies Financial Group raised shares of Mercedes-Benz Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Zacks Research upgraded shares of Mercedes-Benz Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Four research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Mercedes-Benz Group presently has an average rating of “Strong Buy”.

Mercedes-Benz Group Trading Down 1.4%

The firm has a market cap of C$45.14 billion, a PE ratio of 7.56 and a beta of 0.81. The firm has a fifty day simple moving average of C$13.21 and a two-hundred day simple moving average of C$13.99. The company has a current ratio of 1.32, a quick ratio of 1.01 and a debt-to-equity ratio of 0.67.

Mercedes-Benz Group (OTCMKTS:MBGYY) last posted its earnings results on Tuesday, July 28th. The company reported C$0.33 earnings per share (EPS) for the quarter. Mercedes-Benz Group had a return on equity of 5.41% and a net margin of 3.89%.The firm had revenue of C$37.27 billion for the quarter. Equities analysts forecast that Mercedes-Benz Group AG will post 1.37 EPS for the current year.

About Mercedes-Benz Group

Mercedes-Benz Group AG is a German automotive company headquartered in Stuttgart. Its origins trace to the development of the first gasoline-powered automobile by Carl Benz in 1886, and the group operated as Daimler AG before adopting the Mercedes-Benz Group name in 2022.

The company develops, manufactures and sells premium passenger cars and electric vehicles under the Mercedes-Benz brand, along with high-performance Mercedes-AMG and luxury Mercedes-Maybach models. Its passenger-vehicle lineup includes sedans, SUVs, coupes and convertibles across a range of sizes and powertrains.

Mercedes-Benz also produces vans for commercial and private use through its Mercedes-Benz Vans business.