Mitsubishi Electric (MIELY) Projected to Announce Quarterly Earnings on Friday

Mitsubishi Electric (OTCMKTS:MIELY) will likely be issuing its results after the market closes on Friday, October 30th. Analysts expect Mitsubishi Electric to announce earnings of $0.8020 per share and revenue of $9.80 billion for the quarter.

Mitsubishi Electric (OTCMKTS:MIELY) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.75 billion.

Mitsubishi Electric Price Performance

OTCMKTS MIELY opened at $60.84 on Wednesday. Mitsubishi Electric has a one year low of $50.20 and a one year high of $86.00. The firm has a market cap of $64.28 billion, a P/E ratio of 46.44 and a beta of 0.81. The stock’s 50-day moving average is $66.36 and its 200-day moving average is $70.63.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Mitsubishi Electric in a research note on Tuesday, September 15th. They set an “outperform” rating for the company. Zacks Research upgraded shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy”.

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.