Mitsubishi Electric (OTCMKTS:MIELY) Announces Earnings Results

Mitsubishi Electric (OTCMKTS:MIELY) posted its quarterly earnings data on Friday. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04, Zacks reports.

Mitsubishi Electric Stock Performance

Shares of MIELY stock traded up $5.10 during trading hours on Friday, hitting $72.66. The company had a trading volume of 66,654 shares, compared to its average volume of 121,167. Mitsubishi Electric has a 12 month low of $45.49 and a 12 month high of $86.00. The firm’s fifty day moving average is $72.84 and its 200 day moving average is $72.02. The firm has a market capitalization of $76.77 billion, a price-to-earnings ratio of 68.55 and a beta of 0.75.

Analyst Ratings Changes

Separately, Zacks Research upgraded Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Mitsubishi Electric has an average rating of “Moderate Buy”.

About Mitsubishi Electric

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.