Panasonic (OTCMKTS:PCRFY) Stock Rating Lowered by Zacks Investment Research

Panasonic (OTCMKTS:PCRFY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “PANASONIC CORPORATION is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. The company’s shares are listed on the Tokyo, Osaka, Nagoya and New York stock exchanges. “

Other equities analysts have also recently issued reports about the company. Citigroup raised Panasonic from a “neutral” rating to a “buy” rating in a report on Monday, March 16th. UBS Group cut Panasonic from a “neutral” rating to a “sell” rating in a report on Wednesday, April 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Panasonic presently has an average rating of “Hold” and an average target price of $10.00.

OTCMKTS PCRFY opened at $9.31 on Tuesday. The business’s fifty day moving average price is $8.90 and its 200-day moving average price is $8.78. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 10.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.31 and a quick ratio of 1.01. Panasonic has a 1-year low of $6.19 and a 1-year high of $11.77.

Panasonic (OTCMKTS:PCRFY) last released its quarterly earnings results on Monday, May 18th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $15.93 billion for the quarter. Panasonic had a return on equity of 10.79% and a net margin of 3.01%. Equities research analysts anticipate that Panasonic will post 0.38 EPS for the current 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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