Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up – Time to Buy?

Mitsubishi Corp. (OTCMKTS:MSBHF)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $31.8960, but opened at $34.4305. Mitsubishi shares last traded at $34.4305, with a volume of 755 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Mitsubishi from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Mitsubishi Price Performance

The company has a market capitalization of $125.45 billion, a price-to-earnings ratio of 18.60 and a beta of 0.52. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $31.07 and its 200-day moving average price is $31.10.

Mitsubishi (OTCMKTS:MSBHF) last released its earnings results on Wednesday, November 4th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. The company had revenue of $33.22 billion during the quarter, compared to the consensus estimate of $28.64 billion. Mitsubishi had a return on equity of 10.48% and a net margin of 5.14%. Equities research analysts anticipate that Mitsubishi Corp. will post 2.37 earnings per share for the current year.

Mitsubishi Company Profile

Mitsubishi Corporation is a Japanese integrated trading and investment company that develops businesses and invests across a broad range of industries. Its activities include natural gas, mineral resources, industrial materials, automotive and mobility, food, consumer products, power solutions and urban development.

The company sources, processes and distributes commodities and other products, and participates in projects and operating businesses throughout their value chains. Its operations and investments span Japan and international markets, supported by a global network of subsidiaries and affiliates.

Established in 1954, Mitsubishi Corporation is part of the broader Mitsubishi group of companies.