AU Optronics Downgraded to “Underperform” at Sanford C. Bernstein (AUO)
AU Optronics (NYSE:AUO) was downgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
AU Optronics (NYSE:AUO) traded up 2.68% on Friday, hitting $4.60. 496,562 shares of the company’s stock traded hands. AU Optronics has a 52 week low of $2.71 and a 52 week high of $4.54. The stock’s 50-day moving average is $4.03 and its 200-day moving average is $3.55. The company has a market cap of $4.427 billion and a P/E ratio of 17.92.
AU Optronics (NYSE:AUO) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.22) by $0.25. The company had revenue of $93.80 billion for the quarter, compared to the consensus estimate of $90.78 billion. During the same quarter in the prior year, the company posted ($0.36) earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that AU Optronics will post $0.26 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of AU Optronics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $4.30 price target on the stock.
AU Optronics Corp. is principally engaged in the research, development, design, manufacture and distribution of flat panel displays.
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