Mitsubishi (OTCMKTS:MSBHF) Hits New 1-Year High – Time to Buy?

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF) hit a new 52-week high during trading on Tuesday . The company traded as high as $26.3320 and last traded at $25.9060, with a volume of 1115 shares traded. The stock had previously closed at $25.2950.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group assumed coverage on shares of Mitsubishi in a research report on Tuesday, January 6th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Mitsubishi Price Performance

The stock has a 50-day simple moving average of $24.11 and a 200 day simple moving average of $23.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.13 and a current ratio of 1.44. The stock has a market capitalization of $105.03 billion, a P/E ratio of 22.20 and a beta of 0.64.

Mitsubishi (OTCMKTS:MSBHF) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). Mitsubishi had a return on equity of 6.97% and a net margin of 3.86%.The firm had revenue of $29.97 billion for the quarter, compared to the consensus estimate of $27.73 billion. On average, equities analysts forecast that Mitsubishi Corp. will post 1.6 earnings per share for the current fiscal year.

Mitsubishi Company Profile

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.