Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Price Up 10.5% – Here’s Why

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) shares rose 10.5% during trading on Thursday. The company traded as high as $22.74 and last traded at $22.74. 867 shares changed hands during trading, a decline of 97% from the average session volume of 27,059 shares. The stock had previously closed at $20.57.

Wall Street Analyst Weigh In

MHVYF has been the subject of a number of recent analyst reports. Sanford C. Bernstein began coverage on Mitsubishi Heavy Industries in a research report on Tuesday, September 15th. They issued an “outperform” rating for the company. UBS Group raised shares of Mitsubishi Heavy Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Mitsubishi Heavy Industries Trading Up 10.5%

The stock has a market cap of $76.72 billion, a price-to-earnings ratio of 29.92 and a beta of 0.52. The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $23.94 and its two-hundred day moving average is $26.49.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last posted its earnings results on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 12.97%. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.09 billion.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. is a Japan-based industrial engineering and manufacturing company that develops and supplies large-scale equipment, systems and infrastructure for customers around the world. Its operations span energy, industrial machinery, infrastructure, transportation, aerospace and defense.

The company provides gas turbines, steam turbines, boilers, power-generation systems and carbon-reduction technologies, as well as machinery and systems used in factories, logistics operations and environmental applications.