Mitsubishi Estate (OTCMKTS:MITEY) Stock Price Down 4% - Here's What Happened

Key Points

• Mitsubishi Estate's shares fell 4% during mid-day trading, marking a significant drop from the previous closing price of $22.86.
• Despite the decline in share price, CLSA upgraded Mitsubishi Estate to a "strong-buy" rating, contributing to the stock's average rating of "Strong Buy."
• The company reported earnings of $0.20 per share for the last quarter, surpassing analysts' expectations, although revenue was lower than anticipated at $2.42 billion compared to the expected $2.70 billion.

Mitsubishi Estate Co. (OTCMKTS:MITEY - Get Free Report)'s stock price was down 4% during mid-day trading on Monday . The company traded as low as $21.94 and last traded at $21.94. Approximately 6 shares traded hands during trading, a decline of 100% from the average daily volume of 55,519 shares. The stock had previously closed at $22.86.

Analysts Set New Price Targets

Separately, CLSA upgraded Mitsubishi Estate to a "strong-buy" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Mitsubishi Estate presently has an average rating of "Strong Buy".

Mitsubishi Estate Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.69 and a current ratio of 2.33. The company has a market cap of $28.42 billion, a price-to-earnings ratio of 21.85 and a beta of 0.21. The business has a fifty day moving average price of $20.66 and a 200 day moving average price of $18.50.

Mitsubishi Estate (OTCMKTS:MITEY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.70 billion. Mitsubishi Estate had a return on equity of 5.65% and a net margin of 12.09%. Mitsubishi Estate has set its FY 2025 guidance at 1.110-1.110 EPS.

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.