Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down premarket — the stock closed at $28.57, opened at $26.82 and last traded at $28.30 on a volume of 58,277 shares.
• Quarterly results mixed: EPS of $0.19 beat estimates of $0.13 while revenue of $7.74 billion missed expectations of $7.86 billion; the stock trades at a high P/E of 51.79 with a market cap of about $97.8 billion.
• Zacks upgraded the rating from "strong sell" to "hold," and the stock's consensus rating on MarketBeat is currently "Hold."

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $28.57, but opened at $26.82. Mitsubishi Heavy Industries shares last traded at $28.30, with a volume of 58,277 shares trading hands.

Analyst Ratings Changes

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 an average rating of "Hold".

Mitsubishi Heavy Industries Stock 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 stock has a market cap of $97.84 billion, a price-to-earnings ratio of 51.79 and a beta of 0.54. The company's 50-day simple moving average is $30.01 and its 200-day simple moving average is $28.74.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $7.74 billion for the quarter, compared to analysts' expectations of $7.86 billion. Mitsubishi Heavy Industries had a return on equity of 10.91% and a net margin of 5.21%.

Hedge Funds Weigh In On Mitsubishi Heavy Industries

A hedge fund recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. bought a new position in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,000 shares of the company's stock, valued at approximately $28,000.

About Mitsubishi Heavy Industries

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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