Hitachi (OTCMKTS:HTHIY) Shares Gap Down – Here’s Why

Hitachi Ltd. (OTCMKTS:HTHIY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $31.46, but opened at $29.77. Hitachi shares last traded at $30.36, with a volume of 69,239 shares trading hands.

Analyst Ratings Changes

Separately, Nomura raised Hitachi to a “strong-buy” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Hitachi Price Performance

The stock has a 50 day moving average of $31.92 and a two-hundred day moving average of $31.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 1.08. The firm has a market capitalization of $140.98 billion, a P/E ratio of 20.80, a P/E/G ratio of 0.87 and a beta of 0.93.

Hitachi (OTCMKTS:HTHIY) last issued its quarterly earnings data on Thursday, January 29th. The conglomerate reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Hitachi had a return on equity of 13.27% and a net margin of 8.05%.The business had revenue of $17.68 billion for the quarter, compared to the consensus estimate of $16.85 billion. Sell-side analysts predict that Hitachi Ltd. will post 0.47 earnings per share for the current fiscal year.

Hitachi Company Profile

Hitachi, Ltd. (OTCMKTS:HTHIY) is a Tokyo-headquartered multinational conglomerate that operates a diversified portfolio of businesses spanning information technology, energy and power systems, industrial machinery, transportation systems, and digital solutions. Founded in 1910 by engineer Namihei Odaira in the city of Hitachi, Ibaraki Prefecture, the company grew from an electrical repair shop and early induction motor manufacturing into a global engineering and technology group. Hitachi positions itself as a “social innovation” company, combining operational technology, information technology and domain knowledge to address infrastructure and industry challenges.

The company’s activities include design and manufacture of heavy industrial equipment and construction machinery, delivery of rail and urban transportation systems, development and provision of power generation and grid equipment, and enterprise IT services including systems integration and cloud solutions.