Zacks Investment Research Downgrades ASAHI KASEI COR/ADR (OTCMKTS:AHKSY) to Hold

Zacks Investment Research cut shares of ASAHI KASEI COR/ADR (OTCMKTS:AHKSY) from a strong-buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “ASAHI KASEI CORPORATION, provides innovative solutions based in chemistry and materials science to a diverse range of markets including fibers, chemicals, consumer products, housing, construction, electronics, and health care. On October 1, 2003, all core operations were transferred to wholly owned constituent corporations as autonomous operating business units. Asahi Kasei Corporation, as the parent company, functions as a holding company for group operations. An Independent Businesses Group not included in the constituent corporations provides group services. “

ASAHI KASEI COR/ADR stock opened at $17.45 on Wednesday. The company’s 50-day moving average price is $20.54. The company has a market cap of $12.46 billion, a P/E ratio of 8.71 and a beta of 0.61. ASAHI KASEI COR/ADR has a 52-week low of $17.40 and a 52-week high of $31.00. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

ASAHI KASEI COR/ADR (OTCMKTS:AHKSY) last released its quarterly earnings results on Friday, May 10th. The company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $5.30 billion during the quarter. ASAHI KASEI COR/ADR had a return on equity of 11.58% and a net margin of 6.80%. On average, equities research analysts forecast that ASAHI KASEI COR/ADR will post 1.91 EPS for the current fiscal year.

About ASAHI KASEI COR/ADR

Asahi Kasei Corporation manufactures, processes, and sells chemical products in Japan and internationally. The company operates in three segments: Material, Homes, and Health Care. It offers cupro fiber, lining fabric, stretch fiber, spunbond nonwoven, cupro nonwoven fabric, microfiber suede, oil-water separator, deodorizing nonwoven, heat-press formable thermoplastic nonwoven, noise suppression sheet, filament, flame-resistant fiber, honeycomb fabric, cellulose nanobead, and elastic electric wire products.

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