Denso (OTCMKTS:DNZOY) Shares Gap Down – Here’s Why

Denso Corp. (OTCMKTS:DNZOY)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $12.24, but opened at $11.75. Denso shares last traded at $11.70, with a volume of 60,855 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Denso from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Denso presently has a consensus rating of “Hold”.

Denso Stock Down 1.5%

The business’s 50 day moving average price is $11.89 and its 200-day moving average price is $12.27. The firm has a market capitalization of $34.16 billion, a PE ratio of 11.39 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.12.

Denso (OTCMKTS:DNZOY) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Denso had a return on equity of 7.74% and a net margin of 5.57%. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.99 billion. As a group, equities research analysts forecast that Denso Corp. will post 0.89 earnings per share for the current year.

About Denso

DENSO Corporation is a Japanese mobility and automotive technology supplier that develops and manufactures components and systems for vehicle makers and other customers. Its products include thermal systems, powertrain and electrification components, automotive electronics, and technologies for vehicle safety and mobility. Founded in 1949 as Nippon Denso Co., Ltd., the company became independent from Toyota Motor Corporation and later adopted the name DENSO Corporation. It is headquartered in Kariya, Aichi Prefecture, Japan.