Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Up – Time to Buy?

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) gapped up before the market opened on Monday . The stock had previously closed at $25.00, but opened at $26.00. Mitsubishi Heavy Industries shares last traded at $26.00, with a volume of 790 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Mitsubishi Heavy Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy”.

Mitsubishi Heavy Industries Stock Performance

The stock’s 50-day moving average is $24.41 and its 200-day moving average is $27.12. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The stock has a market cap of $85.69 billion, a price-to-earnings ratio of 33.42 and a beta of 0.50.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 13.20%. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.09 billion.

Hedge Funds Weigh In On Mitsubishi Heavy Industries

A hedge fund recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. purchased a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company’s activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.