Panasonic (OTCMKTS:PCRFY) Cut to “Hold” at ValuEngine

ValuEngine downgraded shares of Panasonic (OTCMKTS:PCRFY) from a buy rating to a hold rating in a research report released on Tuesday morning, ValuEngine reports.

Several other equities analysts also recently commented on PCRFY. Zacks Investment Research downgraded shares of Panasonic from a buy rating to a hold rating in a report on Thursday, October 24th. Citigroup lowered shares of Panasonic from a buy rating to a neutral rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and an average price target of $9.25.

Shares of OTCMKTS PCRFY opened at $9.60 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $23.51 billion, a P/E ratio of 8.65 and a beta of 1.23. Panasonic has a 12 month low of $7.46 and a 12 month high of $9.91. The stock has a 50 day moving average of $8.96 and a 200-day moving average of $8.35.

Panasonic (OTCMKTS:PCRFY) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Panasonic had a return on equity of 13.52% and a net margin of 3.46%. The business had revenue of $18.21 billion for the quarter, compared to analysts’ expectations of $18.60 billion. Analysts predict that Panasonic will post 0.73 EPS for the current fiscal year.

About Panasonic

Panasonic Corp. engages in the development, manufacture, and sale of electrical products. It operates through the following segments: Appliances, Eco Solutions, Connected Solutions Company, Automotive and Industrial Systems, and Others. The Appliances segment develops and manufactures white goods such as vacuum cleaner, washing machine, refrigerator, and air conditioner; as well as health and beauty products.

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