Kyocera Corporation (NYSE:KYO) Cut to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Kyocera Corporation (NYSE:KYO) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Kyocera Corporation was founded in 1959 as a company specializing in the production of fine ceramic components, Kyocera has expanded its business by effectively developing and applying its ceramics technologies. The company has grown to be a world-leading manufacturer of ceramics, including custom parts and consumer products. Kyocera’s materials, components, and finished products are used in virtually all fields of industry. In addition to ceramics, products also include information, tele-communications, and Optical equipment. “
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Kyocera Corporation from a strong sell rating to a sell rating in a research note on Tuesday, August 1st. Mizuho raised Kyocera Corporation from a neutral rating to a buy rating in a research note on Tuesday, June 13th.
Shares of Kyocera Corporation (NYSE:KYO) traded down 0.58% during trading on Wednesday, hitting $59.77. The company had a trading volume of 22,701 shares. The firm has a market capitalization of $21.98 billion, a P/E ratio of 20.00 and a beta of 0.54. The company’s 50 day moving average is $58.52 and its 200 day moving average is $56.95. Kyocera Corporation has a 1-year low of $46.37 and a 1-year high of $61.50.
Kyocera Corporation (NYSE:KYO) last issued its quarterly earnings results on Friday, July 28th. The electronics maker reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.25. The company had revenue of $3.11 billion for the quarter. Kyocera Corporation had a return on equity of 4.96% and a net margin of 8.34%. Analysts anticipate that Kyocera Corporation will post $2.18 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in KYO. Virtu KCG Holdings LLC bought a new stake in Kyocera Corporation during the second quarter worth approximately $446,000. Renaissance Technologies LLC boosted its stake in Kyocera Corporation by 2.6% in the second quarter. Renaissance Technologies LLC now owns 549,600 shares of the electronics maker’s stock worth $32,025,000 after buying an additional 13,910 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Kyocera Corporation by 12.1% in the second quarter. Parametric Portfolio Associates LLC now owns 313,139 shares of the electronics maker’s stock worth $18,247,000 after buying an additional 33,694 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Kyocera Corporation by 29.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,613 shares of the electronics maker’s stock worth $152,000 after buying an additional 598 shares in the last quarter. Finally, HPM Partners LLC boosted its stake in Kyocera Corporation by 159.7% in the second quarter. HPM Partners LLC now owns 12,465 shares of the electronics maker’s stock worth $207,000 after buying an additional 7,666 shares in the last quarter. 0.57% of the stock is currently owned by hedge funds and other institutional investors.
Kyocera Corporation Company Profile
Kyocera Corporation is engaged in various fields, from fine ceramic components to electronic devices, equipment, services and networks. The Company operates through seven segments: Fine Ceramic Parts Group, Semiconductor Parts Group, Applied Ceramic Products Group, Electronic Device Group, Telecommunications Equipment Group, Information Equipment Group and Others.
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