Denso (OTCMKTS:DNZOY) Shares Cross Above 50-Day Moving Average – Here’s Why

Denso Corp. (OTCMKTS:DNZOY)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.95 and traded as high as $12.00. Denso shares last traded at $11.96, with a volume of 115,130 shares trading hands.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Denso from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Denso presently has a consensus rating of “Hold”.

Denso Stock Performance

The company has a market cap of $34.82 billion, a P/E ratio of 11.18 and a beta of 0.95. The company’s fifty day moving average is $11.95 and its 200 day moving average is $12.97. The company has a current ratio of 1.91, a quick ratio of 1.28 and a debt-to-equity ratio of 0.10.

Denso (OTCMKTS:DNZOY) last issued its earnings results on Monday, April 27th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $11.85 billion. Denso had a net margin of 5.82% and a return on equity of 8.29%. As a group, equities analysts predict that Denso Corp. will post 0.95 earnings per share for the current fiscal year.

About Denso

Denso Corporation (OTCMKTS: DNZOY) is a global supplier of automotive technology, systems and components headquartered in Kariya, Aichi Prefecture, Japan. The company designs, manufactures and supplies a wide range of parts and systems for original equipment manufacturers (OEMs) and the aftermarket. Denso’s offerings span thermal systems, powertrain control, electrification components, electronic modules, sensors and actuators, and vehicle safety and driver assistance technologies.

Key product areas include climate control and HVAC components, radiators and heat exchangers, engine and fuel-management systems, starters and alternators, electronic control units (ECUs), sensors, and a growing portfolio of electrification products such as inverters, battery-management systems and charging components.