Hitachi Ltd. (OTCMKTS:HTHIY – Get Free Report)’s stock price crossed below its 50-day moving average during trading on Thursday following a weaker than expected earnings announcement. The stock has a 50-day moving average of $35.02 and traded as low as $32.07. Hitachi shares last traded at $32.66, with a volume of 1,620,065 shares.
The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Hitachi had a net margin of 6.53% and a return on equity of 10.94%. The business had revenue of $18.40 billion for the quarter, compared to analysts’ expectations of $18.51 billion.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on HTHIY shares. Zacks Research raised Hitachi from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 2nd. Sanford C. Bernstein initiated coverage on shares of Hitachi in a research note on Tuesday, September 15th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.
Check Out Our Latest Research Report on Hitachi
Hitachi Trading Down 10.6%
The firm has a 50 day simple moving average of $35.02 and a 200 day simple moving average of $32.54. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $148.13 billion, a PE ratio of 30.81, a P/E/G ratio of 1.28 and a beta of 0.97.
About Hitachi
Hitachi, Ltd. is a Japanese technology and engineering company that develops digital, infrastructure and industrial solutions for customers worldwide. Founded in 1910 and headquartered in Tokyo, the company has evolved from an electrical equipment manufacturer into a diversified provider of systems and services supporting social infrastructure and business operations.
Hitachi’s principal activities include digital systems and services, energy systems, railway systems, industrial equipment and healthcare technology.
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