Mitsubishi (OTCMKTS:MSBHF) Hits New 52-Week High – Time to Buy?

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF) reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.06 and last traded at $34.1750, with a volume of 1975 shares trading hands. The stock had previously closed at $33.08.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group started coverage on shares of Mitsubishi in a research report on Tuesday, January 6th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Mitsubishi currently has an average rating of “Hold”.

Mitsubishi Trading Up 1.3%

The company has a current ratio of 1.36, a quick ratio of 1.06 and a debt-to-equity ratio of 0.41. The stock has a market cap of $135.89 billion, a price-to-earnings ratio of 26.91 and a beta of 0.59. The company has a fifty day simple moving average of $29.85 and a 200-day simple moving average of $25.87.

Mitsubishi (OTCMKTS:MSBHF) last announced its earnings results on Thursday, February 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Mitsubishi had a net margin of 3.99% and a return on equity of 7.43%. The company had revenue of $32.18 billion during the quarter, compared to analysts’ expectations of $27.57 billion. On average, research analysts forecast that Mitsubishi Corp. will post 1.6 earnings per share for the current fiscal year.

About Mitsubishi

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.