Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up – Here’s Why

Mitsubishi Corp. (OTCMKTS:MSBHF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $31.46, but opened at $33.4499. Mitsubishi shares last traded at $33.4499, with a volume of 252 shares traded.

Analysts Set New Price Targets

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

Mitsubishi Stock Up 0.1%

The company has a market cap of $120.82 billion, a P/E ratio of 21.17 and a beta of 0.46. The stock’s 50-day moving average price is $29.26 and its 200-day moving average price is $31.41. The company has a current ratio of 1.41, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

Mitsubishi (OTCMKTS:MSBHF) last issued its earnings results on Monday, August 3rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Mitsubishi had a return on equity of 8.79% and a net margin of 4.49%.The company had revenue of $31.86 billion during the quarter, compared to the consensus estimate of $26.46 billion. As a group, research analysts forecast that Mitsubishi Corp. will post 2.22 EPS for the current 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.