Rakuten (OTCMKTS:RKUNY) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Rakuten (OTCMKTS:RKUNY) announced its earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07, Zacks reports. Rakuten had a negative net margin of 7.13% and a negative return on equity of 14.73%.

Rakuten Trading Up 2.5%

RKUNY stock traded up $0.12 during trading on Thursday, hitting $4.99. The company had a trading volume of 161,519 shares, compared to its average volume of 48,817. The firm has a market capitalization of $10.85 billion, a P/E ratio of -9.24 and a beta of 1.15. Rakuten has a 52-week low of $4.50 and a 52-week high of $7.04. The company has a 50 day simple moving average of $4.90 and a 200-day simple moving average of $5.69. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.11.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Rakuten from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Rakuten Company Profile

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.