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

Key Points

• Shares gapped down to open at $26.45 from a $28.89 close but later traded around $29.05, showing intraday volatility and a roughly 2.7% uptick on light volume (1,842 shares).
• Zacks Research upgraded Mitsubishi Heavy Industries from a "strong sell" to a "hold," and the stock carries a consensus Hold rating from two analysts.
• The company beat EPS estimates ($0.19 vs. $0.13) but missed revenue expectations ($7.74B vs. $7.86B); MHI trades at a P/E of 51.92 with a market cap near $98.1 billion.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $28.89, but opened at $26.45. Mitsubishi Heavy Industries shares last traded at $29.0460, with a volume of 1,842 shares trading hands.

Analyst Upgrades and Downgrades

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

Mitsubishi Heavy Industries Trading Up 2.7%

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 0.98. The business has a 50 day moving average of $30.41 and a 200 day moving average of $28.67. The firm has a market capitalization of $98.09 billion, a price-to-earnings ratio of 51.92 and a beta of 0.54.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.19 EPS 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 business had revenue of $7.74 billion during the quarter, compared to analysts' expectations 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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