Hoya (OTCMKTS:HOCPY) Shares Gap Up Following Strong Earnings

Hoya Corp. (OTCMKTS:HOCPY)’s stock price gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $116.20, but opened at $124.19. Hoya shares last traded at $124.19, with a volume of 338 shares changing hands.

The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. Hoya had a net margin of 23.57% and a return on equity of 21.24%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group upgraded Hoya from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 23rd. Erste Group Bank upgraded Hoya from a “hold” rating to a “strong-buy” rating in a report on Friday, May 23rd.

Hoya Trading Up 6.5%

The business has a fifty day moving average of $120.12 and a 200-day moving average of $119.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.21 and a current ratio of 4.90. The company has a market capitalization of $42.47 billion, a P/E ratio of 30.95, a PEG ratio of 2.32 and a beta of 0.91.

About Hoya

HOYA Corporation, a med-tech company, provides high-tech and medical products worldwide. It operates through three segments: Life Care, Telecommunication, and Other. The company offers life care products, including eyeglass and contact lenses; medical endoscopes; intraocular lenses; laparoscopic surgical instruments; automatic endoscope cleaning equipment; and other medical related products, such as prosthetic ceramic fillers and metallic implants for orthopedics.