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

Key Points

• Mitsubishi Heavy Industries shares gapped down from $25.90 to $25.15 at market open, last trading at $26.00 with a volume of 5,748 shares.
• UBS Group downgraded Mitsubishi Heavy Industries from a "strong-buy" to a "neutral" rating, with the stock currently holding an average rating of "Buy" from analysts.
• The company recently reported quarterly earnings of $0.14 per share, surpassing estimates, with revenue of $8.28 billion, up from an expected $8.22 billion.

Shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $25.90, but opened at $25.15. Mitsubishi Heavy Industries shares last traded at $26.00, with a volume of 5,748 shares.

Analyst Ratings Changes

Separately, UBS Group cut Mitsubishi Heavy Industries from a "strong-buy" rating to a "neutral" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Mitsubishi Heavy Industries has a consensus rating of "Buy".

Mitsubishi Heavy Industries Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.31. The firm has a market cap of $87.71 billion, a P/E ratio of 52.00 and a beta of 0.58. The business has a fifty day moving average of $24.82 and a 200 day moving average of $21.75.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Mitsubishi Heavy Industries had a return on equity of 10.23% and a net margin of 4.92%.The business had revenue of $8.28 billion during the quarter, compared to analysts' expectations of $8.22 billion.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries, Ltd. manufactures and sells heavy machinery worldwide. It operates through Energy Systems; Plants & Infrastructure Systems; Logistics, Thermal & Drive Systems; and Aircraft, Defense & Space segments. The company offers thermal, renewable energy, nuclear power generation, and engine power plants; oil and gas production plants; lithium-ion battery products and fuel cells; civil aircrafts and engines, aviation equipment, and maintenance, repair, and overhaul of aircrafts; and launch vehicles and services, rocket engines, reaction control systems, space stations, rocket launchers, rocket engine combustion test facilities, and electronic parts.