Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up After Analyst Upgrade

Mitsubishi Corp. (OTCMKTS:MSBHF)’s share price gapped up prior to trading on Thursday after Zacks Research upgraded the stock to a hold rating. The stock had previously closed at $30.91, but opened at $32.45. Mitsubishi shares last traded at $30.60, with a volume of 1,062 shares traded.

Mitsubishi Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.09. The stock has a market capitalization of $113.59 billion, a price-to-earnings ratio of 22.05 and a beta of 0.46. The stock’s 50 day simple moving average is $33.20 and its 200-day simple moving average is $29.55.

Mitsubishi (OTCMKTS:MSBHF) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. Mitsubishi had a return on equity of 8.04% and a net margin of 4.23%.The business had revenue of $32.97 billion for the quarter, compared to analyst estimates of $22.88 billion. On average, analysts expect that Mitsubishi Corp. will post 2.22 EPS for the current fiscal year.

Mitsubishi Company Profile

Mitsubishi is a long-established Japanese business family and brand that today encompasses a group of independent companies operating across a wide range of industries. The Mitsubishi name traces back to the late 19th century and the founding of a shipping firm that grew into a diversified industrial and trading conglomerate. Over time the original zaibatsu was reorganized into a number of separately managed companies that nonetheless share the Mitsubishi mark and coordinate through cross-shareholdings and business relationships.

Companies using the Mitsubishi name are active in sectors including industrial machinery and heavy equipment, automotive manufacturing, electrical and electronic equipment, chemicals and materials, energy and natural resources, trading and logistics, finance and banking, real estate, and food and consumer products.