Zacks Investment Research cut shares of SKF (OTCMKTS:SKFRY) from a buy rating to a hold rating in a report published on Thursday morning.
According to Zacks, “SKF AB engages in the manufacturing of ball and roller bearings, seals, tools for mounting/dismounting bearings, lubricants and measuring/monitoring instruments. It also produces roller bearing steel and other special steels. The Company operates in three divisions: Industrial Division, Service Division and Automotive Division. It also offers products and knowledge-based services comprising hardware and software, consulting, mechanical services, predictive and preventive maintenance, condition monitoring, decision-support systems and performance-based contracts. SKF AB is headquartered in Gothenburg, Sweden. “
SKFRY has been the topic of a number of other reports. JPMorgan Chase cut SKF from a neutral rating to an underweight rating in a research note on Friday, December 8th. ValuEngine cut SKF from a buy rating to a hold rating in a research note on Monday. Finally, Berenberg Bank raised SKF from a sell rating to a hold rating in a research note on Thursday, March 22nd.
SKF (OTCMKTS:SKFRY) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.50 EPS for the quarter. The business had revenue of $2.34 billion for the quarter. SKF had a return on equity of 19.55% and a net margin of 7.03%. sell-side analysts expect that SKF will post 1.64 earnings per share for the current fiscal year.
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SKF Company Profile
AB SKF (publ) offers bearings, seals, mechatronics, condition monitoring, lubrication systems, and services. It operates in two segments, Industrial and Automotive. The company's products include bearings, units, and housings; seals; lubrication solutions; linear motion systems; actuation systems, screws, and linear guides and tables; magnetic bearings/permanent magnetic electric motors; mechatronic solutions; maintenance products; condition monitoring systems; power transmission products and solutions; coupling systems; test and measurement equipment; and vehicle aftermarket products, such as wheel end, powertrain, driveline, and steering and suspension products, as well as tools and lubricants.
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