Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Down - Here's Why

Key Points

• Mitsubishi Heavy Industries shares gapped down, opening at $29.40 after a prior close of $30.3750 and last trading at $29.40 on light volume (668 shares).
• Zacks Research upgraded the stock from "strong sell" to "hold" on Feb. 20; two analysts currently rate the stock as Hold and the MarketBeat consensus is Hold.
• The company reported Q/earnings of $0.19 per share (above the $0.13 estimate) while revenue was $7.74 billion versus a $7.86 billion estimate; MHI has a market cap of $96.32 billion and a P/E of 50.98.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $30.3750, but opened at $29.40. Mitsubishi Heavy Industries shares last traded at $29.40, with a volume of 668 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Mitsubishi Heavy Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold".

Mitsubishi Heavy Industries Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $30.66 and a two-hundred day moving average price of $28.57. The company has a market capitalization of $96.32 billion, a price-to-earnings ratio of 50.98 and a beta of 0.54.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. Mitsubishi Heavy Industries had a return on equity of 10.91% and a net margin of 5.21%.The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.86 billion.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company's activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.

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