Mitsubishi Estate (OTCMKTS:MITEY) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• Mitsubishi Estate's stock surpassed its fifty-day moving average, reaching a high of $23.04 before closing at $22.89, indicating positive trading momentum.
• The company received an upgrade from CLSA to a "strong-buy" rating, contributing to an overall average rating of "strong buy" from analysts.
• Despite reporting a quarterly EPS of $0.20, which exceeded analyst expectations, Mitsubishi Estate's revenue of $2.42 billion fell short of the anticipated $2.70 billion.

Mitsubishi Estate Co. (OTCMKTS:MITEY - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $20.40 and traded as high as $23.04. Mitsubishi Estate shares last traded at $22.89, with a volume of 22,195 shares trading hands.

Analysts Set New Price Targets

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

Mitsubishi Estate Price Performance

The company has a market capitalization of $28.42 billion, a price-to-earnings ratio of 21.85 and a beta of 0.21. 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 50 day moving average price of $20.75 and a 200 day moving average price of $18.55.

Mitsubishi Estate (OTCMKTS:MITEY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business 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.

Mitsubishi Estate Company Profile

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.