Mitsubishi (OTCMKTS:MSBHF) Shares Up 7.4% – Still a Buy?

Mitsubishi Corp. (OTCMKTS:MSBHF) shares shot up 7.4% during mid-day trading on Tuesday . The company traded as high as $29.00 and last traded at $29.00. 3,887 shares were traded during mid-day trading, a decline of 89% from the average session volume of 35,516 shares. The stock had previously closed at $27.00.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Mitsubishi to a “hold” rating in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Mitsubishi Trading Up 6.9%

The company has a quick ratio of 1.09, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $109.32 billion, a P/E ratio of 21.22 and a beta of 0.49. The firm’s 50-day simple moving average is $30.24 and its 200 day simple moving average is $30.63.

Mitsubishi (OTCMKTS:MSBHF) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. Mitsubishi had a net margin of 4.23% and a return on equity of 8.04%. The company had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $22.88 billion. Equities research analysts anticipate that Mitsubishi Corp. will post 2.22 EPS for the current fiscal year.

About Mitsubishi

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.