Mitsubishi Estate (OTCMKTS:MITEY) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Key Points

• Mitsubishi Estate shares experienced a significant trading volume increase of 257% after reporting stronger than expected earnings, with 214,459 shares traded.
• The company reported earnings per share of $0.20, exceeding analysts' expectations of $0.18, although revenue was lower than projected at $2.42 billion.
• CLSA raised Mitsubishi Estate's rating to a "strong-buy", indicating analysts' positive outlook on the company's performance.

Mitsubishi Estate Co. (OTCMKTS:MITEY - Get Free Report) saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 214,459 shares were traded during mid-day trading, an increase of 257% from the previous session's volume of 59,999 shares.The stock last traded at $20.73 and had previously closed at $20.48.

The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.70 billion. Mitsubishi Estate had a net margin of 12.09% and a return on equity of 5.48%.

Wall Street Analysts Forecast Growth

Separately, CLSA upgraded shares of Mitsubishi Estate to a "strong-buy" rating in a research note on Tuesday, May 27th.

Mitsubishi Estate Stock Up 2.7%

The company has a current ratio of 2.33, a quick ratio of 1.69 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $27.52 billion, a PE ratio of 21.15 and a beta of 0.23. The business's 50-day simple moving average is $18.91 and its 200-day simple moving average is $17.13.

About Mitsubishi Estate

Mitsubishi Estate Co, Ltd. engages in the real estate activities in Japan and internationally. The company develops, leases, manages, and sells office buildings and commercial facilities; operates rental offices, coworking space, virtual offices, hourly meeting rooms, home delivery storage service, commercial nursing homes, and building garages; offers real estate management, as well as building management services, such as security, facility management, cleaning, and planting services; and operates hotels and airports.