Daikin Industries (OTCMKTS:DKILY) Shares Gap Down on Disappointing Earnings

Daikin Industries (OTCMKTS:DKILY) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.40, but opened at $11.04. Daikin Industries shares last traded at $11.38, with a volume of 39,445 shares traded.

The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $1,153.92 billion. Daikin Industries had a net margin of 5.80% and a return on equity of 9.16%.

Daikin Industries Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.24 and a current ratio of 1.98. The company has a fifty day moving average price of $12.59 and a two-hundred day moving average price of $12.44. The company has a market cap of $32.98 billion, a P/E ratio of 18.15, a PEG ratio of 2.26 and a beta of 0.88.

Daikin Industries Company Profile

Daikin Industries is a Japanese multinational manufacturer best known for its heating, ventilation and air conditioning (HVAC) systems and related products. Headquartered in Osaka, the company designs, manufactures and sells a broad range of climate-control equipment for residential, commercial and industrial applications. Its portfolio spans wall?mounted and packaged air conditioners, rooftop units, chillers, heat pumps, compressors, air purifiers and controls, as well as associated spare parts and aftermarket services.

In addition to finished HVAC systems, Daikin produces refrigerants and fluorochemical products used across the cooling industry, and it develops compressors and heat-exchange technologies that underpin its product lines.