Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up – Still a Buy?

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF) gapped up before the market opened on Wednesday . The stock had previously closed at $29.20, but opened at $31.87. Mitsubishi shares last traded at $29.9850, with a volume of 419 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Mitsubishi to a “hold” rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Mitsubishi currently has a consensus rating of “Hold”.

Mitsubishi Stock Performance

The stock has a 50 day simple moving average of $29.38 and a 200 day simple moving average of $30.99. The company has a quick ratio of 1.09, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The company has a market cap of $110.81 billion, a price-to-earnings ratio of 21.51 and a beta of 0.49.

Mitsubishi (OTCMKTS:MSBHF) last posted its earnings results on Friday, May 1st. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The business had revenue of $32.97 billion during the quarter, compared to analyst estimates of $22.88 billion. Mitsubishi had a return on equity of 8.04% and a net margin of 4.23%. As a group, analysts predict that Mitsubishi Corp. will post 2.22 EPS for the current 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.