AB SKF (publ) (OTCMKTS:SKFRY) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

AB SKF (publ) (OTCMKTS:SKFRY) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $19.21 and traded as high as $19.33. AB SKF (publ) shares last traded at $19.33, with a volume of 49,700 shares changing hands.

Wall Street Analyst Weigh In

Separately, Citigroup raised AB SKF (publ) to a “hold” rating in a report on Friday, October 11th.

AB SKF (publ) Price Performance

The company has a quick ratio of 1.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $19.21 and its two-hundred day simple moving average is $19.03. The stock has a market capitalization of $8.90 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20.

AB SKF (publ) (OTCMKTS:SKFRY) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $2.27 billion for the quarter. AB SKF (publ) had a net margin of 5.69% and a return on equity of 13.98%. As a group, sell-side analysts forecast that AB SKF will post 1.26 earnings per share for the current fiscal year.

About AB SKF (publ)

AB SKF (publ) designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide. It operates in two segments, Industrial and Automotive. The company offers rolling, mounted and housings, super-precision, slewing, plain, magnetic, and thin section bearings; industrial and automotive seals; lubricants, manual lubrication tools, lubricators, automatic lubrication systems, and lubrication system components; maintenance products, such as hydraulic, mechanical, and alignment tools, as well as heaters; belts, pulleys, chains, sprockets, bushings and hubs, couplings, and bolts and tightening systems; condition monitoring systems; test and measuring equipment, such as waviness and roundness analyzers, noise and vibration testers, and grease test rigs, as well as calibration with traceability, machine training and support, and upgrades and refurbishment services; and vehicle aftermarket products.