Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Down - Here's What Happened

Key Points

• Mitsubishi Estate Co. shares gapped down from a previous close of $22.70 to $21.35 at market opening, and last traded at $22.58 with a volume of 22,105 shares.
• CLSA upgraded Mitsubishi Estate to a "strong-buy" rating, contributing to the stock's consensus rating of "Strong Buy."
• The company reported a quarterly earnings per share of $0.20, exceeding expectations, though revenue fell short of estimates at $2.42 billion.

Mitsubishi Estate Co. (OTCMKTS:MITEY - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.70, but opened at $21.35. Mitsubishi Estate shares last traded at $22.58, with a volume of 22,105 shares changing hands.

Wall Street Analyst Weigh In

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

Mitsubishi Estate Price Performance

The company has a quick ratio of 1.69, a current ratio of 2.33 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $28.49 billion, a PE ratio of 21.90 and a beta of 0.21. The company has a 50-day moving average of $20.40 and a 200 day moving average of $18.38.

Mitsubishi Estate (OTCMKTS:MITEY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $2.42 billion during 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.