Marubeni (OTCMKTS:MARUY) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• Marubeni Corp.'s stock price has surged above its 50-day moving average, reaching as high as $245.00 during trading, with the latest price at $244.36.
• Analysts from Zacks upgraded Marubeni's rating to "strong-buy", reflecting increased confidence in the company's performance.
• In its most recent earnings report, Marubeni posted an EPS of $6.47, surpassing estimates, but reported revenue of $14.38 billion, falling short of expectations.

Marubeni Corp. (OTCMKTS:MARUY - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $218.34 and traded as high as $245.00. Marubeni shares last traded at $244.36, with a volume of 7,973 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Marubeni from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

Marubeni Stock Performance

The company has a market cap of $40.75 billion, a P/E ratio of 11.79, a PEG ratio of 1.70 and a beta of 0.69. The firm has a 50 day moving average of $219.88 and a 200-day moving average of $193.92. The company has a quick ratio of 1.06, a current ratio of 1.44 and a debt-to-equity ratio of 0.55.

Marubeni (OTCMKTS:MARUY - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The conglomerate reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.26 by $0.21. The company had revenue of $14.38 billion for the quarter, compared to analysts' expectations of $14.64 billion. Marubeni had a return on equity of 13.84% and a net margin of 6.52%. As a group, sell-side analysts anticipate that Marubeni Corp. will post 19.54 EPS for the current fiscal year.

About Marubeni

Marubeni Corporation engages in various business activities. It manufactures, wholesales, and retails apparel, footwear, home furnishing and sport goods, industrial and textile materials, tire and rubber materials, and household and nursing care products; develops uranium, nuclear fuel cycle, iron ore, coking coal, copper mines, and related equipment and services; smelts and refines aluminum and magnesium; leases temporary steel construction materials; explores for, develops, and produces oil and gas; manages infrastructure funds; and develops and manages real estate.