Panasonic Co. (PCRFY) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Panasonic Co. (NASDAQ:PCRFY) from a sell rating to a hold rating in a report issued on Wednesday morning.

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. “

Panasonic (PCRFY) traded down 1.47% during mid-day trading on Wednesday, hitting $14.73. The company’s stock had a trading volume of 15,272 shares. The firm has a 50 day moving average of $13.70 and a 200-day moving average of $12.74. Panasonic has a 52-week low of $9.13 and a 52-week high of $14.87. The firm has a market cap of $34.36 billion and a price-to-earnings ratio of 21.13.

Panasonic (NASDAQ:PCRFY) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. Panasonic had a negative net margin of 0.33% and a negative return on equity of 6.00%. The business had revenue of $16.79 billion for the quarter. On average, equities research analysts expect that Panasonic will post $0.44 EPS for the current fiscal year.

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About Panasonic

Panasonic Corporation is engaged in the development of diverse electronics technologies and solutions. The Company operates through five segments: Appliances, Eco Solutions, AVC Networks, Automotive & Industrial Systems, and Other. The Appliances segment is engaged in the development, manufacture and sale of consumer electronics, air-conditioners, cold chain and devices.

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