SoftBank Group (OTCMKTS:SFTBY) Posts Earnings Results

SoftBank Group (OTCMKTS:SFTBY) released its quarterly earnings data on Wednesday. The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.86, Zacks reports. SoftBank Group had a net margin of 48.62% and a return on equity of 23.66%.

SoftBank Group Stock Performance

OTCMKTS SFTBY traded up $1.03 during trading hours on Wednesday, reaching $19.56. 1,596,814 shares of the company were exchanged, compared to its average volume of 2,369,037. SoftBank Group has a 1 year low of $6.34 and a 1 year high of $22.50. The business’s 50 day simple moving average is $13.78 and its 200-day simple moving average is $14.52. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $223.44 billion, a P/E ratio of 9.02 and a beta of 1.70.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of SoftBank Group in a research report on Monday, March 9th. They set an “overweight” rating on the stock. Zacks Research raised shares of SoftBank Group to a “hold” rating in a research report on Tuesday, March 10th. TD Cowen raised shares of SoftBank Group to a “hold” rating in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group lowered shares of SoftBank Group from a “hold” rating to an “underperform” rating in a research report on Thursday, March 12th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

About SoftBank Group

SoftBank Group Corp is a Tokyo?based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high?growth technology companies around the globe.