Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Up - Still a Buy?

Key Points

• Shares of Mitsubishi Heavy Industries gapped up Tuesday, opening at $31.8699 after a $29.16 close, though trading was light with just 242 shares changing hands.
• Zacks Research upgraded the stock from a "strong sell" to a Hold, and the consensus from two analysts on MarketBeat is a Hold rating.
• MHI reported quarterly EPS of $0.19 beating estimates of $0.13 while revenue missed slightly at $7.74B versus $7.86B expected; the shares trade at a high PE of 52.5 with a $99.19B market cap.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $29.16, but opened at $31.8699. Mitsubishi Heavy Industries shares last traded at $31.8699, with a volume of 242 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of 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.com, the stock currently has an average rating of "Hold".

Mitsubishi Heavy Industries Stock Up 0.5%

The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $99.19 billion, a PE ratio of 52.50 and a beta of 0.55. The business's 50-day simple moving average is $29.95 and its 200-day simple moving average is $28.78.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last posted its quarterly 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. Mitsubishi Heavy Industries had a net margin of 5.21% and a return on equity of 10.91%. The company had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.86 billion.

Hedge Funds Weigh In On Mitsubishi Heavy Industries

An institutional investor recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. acquired a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,000 shares of the company's stock, valued at approximately $28,000.

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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