Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Price Down 6% – Here’s What Happened

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) shares dropped 6% during mid-day trading on Tuesday . The stock traded as low as $27.9750 and last traded at $27.9750. Approximately 1,441 shares were traded during trading, a decline of 96% from the average daily volume of 40,614 shares. The stock had previously closed at $29.75.

Analyst Ratings Changes

Separately, Zacks Research upgraded Mitsubishi Heavy Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Mitsubishi Heavy Industries Stock Performance

The business’s fifty day simple moving average is $30.74 and its 200-day simple moving average is $28.11. The firm has a market cap of $98.71 billion, a P/E ratio of 52.25 and a beta of 0.47. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.86 billion. Mitsubishi Heavy Industries had a net margin of 5.21% and a return on equity of 10.91%.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company’s activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.