Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up – Here’s Why

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.

Analysts Set New Price Targets

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

Mitsubishi Stock Performance

The firm has a market capitalization of $113.64 billion, a P/E ratio of 22.06 and a beta of 0.49. The company’s 50 day moving average is $29.53 and its 200-day moving average is $30.91. The company has a quick ratio of 1.09, a current ratio of 1.41 and a debt-to-equity ratio of 0.40.

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