Mitsubishi Electric (OTCMKTS:MIELY) Posts Earnings Results, Beats Estimates By $0.16 EPS

Mitsubishi Electric (OTCMKTS:MIELY) released its quarterly earnings results on Friday. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16, Zacks reports. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $9.97 billion.

Mitsubishi Electric Price Performance

Mitsubishi Electric stock opened at $57.99 on Friday. The firm has a market cap of $61.27 billion, a PE ratio of 44.27 and a beta of 0.81. The stock’s fifty day moving average price is $65.64 and its two-hundred day moving average price is $70.60. Mitsubishi Electric has a one year low of $50.20 and a one year high of $86.00.

Analyst Ratings Changes

MIELY has been the topic of a number of research reports. Zacks Research raised Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Sanford C. Bernstein initiated coverage on Mitsubishi Electric in a research report on Tuesday, September 15th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Mitsubishi Electric currently has a consensus rating of “Buy”.

About Mitsubishi Electric

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.