Fanuc (OTCMKTS:FANUY) Shares Gap Up After Better-Than-Expected Earnings

Fanuc Corp. (OTCMKTS:FANUY)’s stock price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $17.71, but opened at $18.61. Fanuc shares last traded at $18.84, with a volume of 23,924 shares changing hands.

The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Fanuc had a return on equity of 9.60% and a net margin of 20.11%.

Wall Street Analyst Weigh In

FANUY has been the subject of a number of research reports. Citigroup cut Fanuc from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. UBS Group cut shares of Fanuc from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Fanuc Stock Up 6.0%

The firm has a 50 day moving average price of $18.95 and a 200 day moving average price of $20.94. The stock has a market cap of $36.89 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.54 and a beta of 1.07.

About Fanuc

Fanuc Corp. is a Japanese manufacturer of factory automation equipment and industrial robotics headquartered in Yamanashi, Japan. The company provides automation technologies used in manufacturing, including computer numerical control (CNC) systems, servo motors and amplifiers, and related control software and hardware.

Fanuc’s product portfolio includes industrial robots and collaborative robots, as well as automated machining and production systems. Its portfolio also includes ROBODRILL machining centers, ROBOSHOT electric injection molding machines, ROBOCUT wire-cut electrical discharge machines, and systems designed to connect, monitor and optimize factory equipment.

The company traces its origins to research and development in numerical control and servo technologies at Fujitsu during the 1950s and became an independent company in 1972.