Mitsubishi Electric (OTCMKTS:MIELY) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Mitsubishi Electric (OTCMKTS:MIELY) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks reports.

Separately, Sanford C. Bernstein began coverage on shares of Mitsubishi Electric in a research note on Tuesday, September 15th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Mitsubishi Electric Price Performance

MIELY opened at $55.95 on Wednesday. The stock’s 50 day moving average price is $64.78 and its 200 day moving average price is $70.51. The stock has a market cap of $59.12 billion, a P/E ratio of 42.71 and a beta of 0.90. Mitsubishi Electric has a 12 month low of $50.20 and a 12 month high of $86.00.

Mitsubishi Electric (OTCMKTS:MIELY) last announced its quarterly earnings results on Friday, October 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $9.97 billion.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation is a Japan-based global manufacturer of electrical and electronic equipment. Founded in 1921 and headquartered in Tokyo, the company develops products and systems for infrastructure, industry, mobility, buildings, homes and information technology.

Its offerings include factory automation equipment, industrial robots, power generation and transmission systems, railway and transportation equipment, elevators and escalators, heating and cooling systems, air conditioners, home appliances, automotive components, semiconductors and other electronic devices.